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

Treasury Secretary Steven MnuchinSteven Terner MnuchinTrump officials heading to China for trade talks next week US sanctions Venezuelan bank after Guaidó aide's arrest Treasury expands penalty relief to more taxpayers MORE on Tuesday downplayed the chances for a middle-class tax cut like the one President TrumpDonald John TrumpMueller report findings could be a 'good day' for Trump, Dem senator says Trump officials heading to China for trade talks next week Showdown looms over Mueller report 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 BradyJOBS for Success Act would recognize that all people have potential Smaller tax refunds put GOP on defensive Key author of GOP tax law joins Ernst and Young 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.