Treasury Secretary Steve Mnuchin is having a hard time advocating for the tax reform plan proposed by House Republicans. In several public appearances, he has undermined the White House's message about the tax plan by admitting that eliminating the estate tax will help the wealthy (as estate taxes only apply for estates with a value of $5.45 million or more), incurring the White House's ire; he has also alienated House and Senate Republicans by making a bizarre request that the Congresspeople vote for tax reform not for the substance of the plan or for President Trump, but for him (Mnuchin), who they have known for a few short months.
This is interesting because it speaks to the difference between finance (which has been Mnuchin's specialty at Goldman Sachs) and economic public policy like tax reform. Most members of the public would probably assume that these backgrounds would relate to each other because finance and economics seem so similar, but Mnuchin's experience speaks to the importance of having a background in tax policy and politics before being appointed to such an important role as Treasury Secretary. Tax reform is an incredibly important part of policy and will impact every part of the economy, and Americans deserve someone who can speak for their interests and effectively advocate for their legislation.
http://www.politico.com/story/2017/10/26/mnuchin-treasury-congress-wall-street-244184
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ReplyDeleteThis is very worrisome as a citizen of the U.S. knowing an elected official like Mnuchin is working out of his capabilities to achieve personal agenda. Its interesting and brings to question the efficiency of our government when elected officials are stalling reformations such as these
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