Mnuchin downplays Trump's talk of middle-class tax cut

Treasury Secretary Steven MnuchinSteven Terner MnuchinOn The Money: Treasury rejects Dem subpoena for Trump tax returns | Companies warn trade war about to hit consumers | Congress, White House to launch budget talks next week | Trump gets deal to lift steel tariffs on Mexico, Canada READ: Mnuchin refuses to provide Trump's tax returns Treasury Department rejects Dem subpoena for Trump tax returns MORE on Tuesday downplayed the chances for a middle-class tax cut like the one President TrumpDonald John TrumpTrump calls for Republicans to be 'united' on abortion Tlaib calls on Amash to join impeachment resolution Facebook temporarily suspended conservative commentator Candace Owens MORE called for in the weeks before November's midterm elections.

“I’m not going to comment on whether it is a real thing or not a real thing,” Mnuchin said in an interview with Bloomberg. “I’m saying for the moment we have other things we’re focused on.”


Trump in October said he was planning to propose a 10-percent tax cut for middle-class families – remarks that took many in Washington by surprise at the time.

Trump last year signed a tax-cut bill that reduces tax rates across-the-board for individuals and businesses. The law never garnered widespread support from the public, and some saw the call for an additional tax cut as an attempt to blunt criticism of the 2017 measure.

Mnuchin told Bloomberg that he would like to work with Congress on making “some minor technical corrections” to the 2017 tax law, like fixing an error that retailers say hurts their ability to renovate their facilities.

House Ways and Means Committee Kevin BradyKevin Patrick BradyHouse to vote on retirement bill next week House chairman issues subpoenas for Trump's tax returns Top Republican urges Dem chairman to drop Trump tax returns effort MORE (R-Texas) has offered a year-end tax package that includes fixes to the 2017 tax law sought by retailers, and the bill may get a vote in the House this week. But the bill is unlikely to get a vote in the Senate, where it would need support from some Democrats to pass.