Daily Tax Report ®

Mnuchin Brings Plea for Tax Cut Permanence to Congress

Feb. 12, 2020, 7:49 PM

Treasury Secretary Steven Mnuchin called on Congress to make permanent the personal tax cuts and other benefits included in the 2017 overhaul, saying doing so would bring additional benefits to the economy.

Senate Finance Committee Chairman Chuck Grassley (R-Iowa) asked Mnuchin the question during Wednesday testimony on the White House’s 2021 budget request. The budget proposal, released Monday, assumes the law’s temporary provisions will be extended.

Making the measures permanent would require action from Congress, and is something Republicans like Ways and Means ranking member Kevin Brady (R-Texas) have previously said is a priority.

President Donald Trump...

To read the full article log in. To learn more about a subscription click here.