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4/20, 7:35 PM (Source: TeleTrader.com)
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Mnuchin: US to roll out major tax reform soon

United States Treasury Secretary Steven Mnuchin said on Thursday that the Trump administration “is pretty close to bring forward a major tax reform,” adding that over 100 people have diligently been working on its since the day he took office. He voiced the hope that the overhaul would not "take until the end of the year."

Speaking at the Institute of International Finance Washington Policy Summit, the Treasury secretary noted he would also focus on regulatory reform in order to ensure the main goal of his tenure – economic growth. He said the competent authorities, which are reviewing the existing regulations to identify the conflicting ones, are due to submit the report in the beginning of June, their main objective being to ensure domestic “banks can lend” and that "this does not put taxpayers at risk." Mnuchin hinted some changes in the regulatory framework would be introduced through executive orders, and others through new legislation.

He said he would also dedicate attention to the housing reform, but also cybersecurity issues in order to make sure the US financial infrastructure is protected.

TeleTrader Newsroom / KV