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Steven Mnuchin On Cohn “hasn’t made any decisions as it relates to the Federal Reserve “

By VW Staff. Originally published at ValueWalk.

In an interview on FOX Business Network’s (FBN) Mornings with Maria (weekdays, 6a-9a/ET), Treasury Secretary Steven Mnuchin discusses the latest surrounding his outlook for getting tax reform done this year, President Donald Trump’s three-month deal to increase the debt ceiling and whether there has been any decisions made regarding a nominee for the next Federal Reserve chair with anchor Maria Bartiromo. Comments are below

On getting tax reform done in 2017:

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Steven Mnuchin
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“Maria, I think it’s still very viable to get it done this year. I think as you know I’ve been working on this since January with the leadership. We’ve made a lot of progress. We’re meeting again today. There’s a lot that’s done. The major blueprint has been outlined it’s going to go to the committees. The committees will add to different parts of this, but we have a path to get this done this year and we’re still very hopeful we can get it done. And that’s the president and my number one priority at the moment.”

On the deal President Donald Trump made with Democratic congressional leaders yesterday to pass aid for the Hurricane Harvey relief effort attached to a three-month extension of the debt limit:

“Maria, well let me first say we’re very happy that we have a deal. So the president’s priority was to make sure that we had funding for [Hurricane] Harvey and to make sure that we raised the debt limit to pay for that. And we’ve accomplished that. The other thing that’s important to understand is we could have done a longer deal. So there was discussions about a one-year deal on the table. That would have a required a one-year deal for the CR and the president’s priority is to re-fund the military and get additional funding. And he didn’t want to give that up. So that’s the president’s priority particularly with what’s going on in North Korea and other parts of the world. So we’re comfortable, we have an extension. I’d also say that everybody in the room was very clear that we will never let the government default…I would say the best part about this is this clears out the next 90 days for us to focus on important things. So we have the funding for Harvey, we’re focused on tax reform. That’s going to be the big priority for the next 90 days. We’re going to work with the two committees on that and get that down to the floor so that we can have a bill passed for the president to sign.”

 

On how soon in 2017 can we expect a completed tax reform bill:

“Maria, we’re talking about between now and year-end. And I think that’s realistic. Again things can change. A lot of things can occur. There’s major hurricanes, there’s big issues that people are focused on. Our objective is to get this done. We don’t need to set a specific date. We’re going to get this done as quickly as we can and our objective is still to get it done this year.”

 

On whether the tax reform plan will hit a wall come December:

“I don’t think so Maria. Again, I’ll say it three more times. I don’t think so, I don’t think so, I don’t think so.”

 

On whether he is worried about a GOP revolt if tax reform does not get done:

“Maria I’m not worried about any GOP revolt at all. You know we’ve been meeting with them on the tax plan. We have an understanding on this tax plan. We’re moving forward on this tax plan. That’s something that we’re very focused on doing and that’s something that we’re working with the leadership on every day and I hope we have Democrats that come across the aisle and support tax reform.”

 

On whether White House Economic Council Director Gary Cohn will stay in the administration if he does not get nominated to be the next Chairman of the Federal Reserve:

“Maria, first of all the president hasn’t made any decisions as it relates to the Federal Reserve and it would be inappropriate for me to make any comments about the Federal Reserve process as we go through it.”

The post Steven Mnuchin On Cohn “hasn’t made any decisions as it relates to the Federal Reserve “ appeared first on ValueWalk.

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