Hurry Up And Wait For Reform
It looks like tax reform will...have to wait:
Mnuchin told the Financial Times in an interview that the target to get tax reforms through Congress and on President Donald Trump's desk before August was "highly aggressive to not realistic at this point".Don't make promises you can't keep right away...
"It is fair to say it is probably delayed a bit because of the healthcare," Mnuchin told the newspaper. (on.ft.com/2oPJlTX)
Mnuchin also told the Financial Times he agreed with Trump's view that the dollar's strength in the short term was hurting exports, but said he saw the currency's strength over the long term as a positive.
"As the world's currency, the primary reserve currency, I think that over long periods of time the strength of the dollar is a good thing," the Financial Times quoted Mnuchin as saying.
Trump has signaled he wants to streamline the income tax system, cut federal regulations, reduce corporate income tax and add new taxes to prod companies to keep or move production to the United States.