Trump weighs big tax cut for rich: report | WHAT REALLY HAPPENED


Trump weighs big tax cut for rich: report

The Trump administration is considering acting unilaterally to institute a $100 billion tax cut that will largely benefit the wealthy, according to a report in The New York Times.

The Times reported that Treasury Secretary Steven Mnuchin at a recent G-20 meeting in Argentina said if the tax cut can't be done through Congress, the administration will “look at what tools” are necessary to consider the move.

“If it can’t get done through a legislation process, we will look at what tools at Treasury we have to do it on our own and we’ll consider that,” Mnuchin said. “We are studying that internally, and we are also studying the economic costs and the impact on growth.”

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