Treasury Secretary Steven Mnuchin said on Wednesday that he “can not speculate” on whether another incentive bill will pass in the full term, days after the negotiations stalled. He also demanded a cut in capital gains and made a rare (for him) critique of Joe Biden’s economic policies.
‘I can not speculate. If the Democrats are willing to be reasonable, there is a compromise. “If the Democrats are focused on politics and do not want to do anything that will succeed for the president, there will be no deal,” Mnuchin said during a speech on Fox Business.
He spoke out against Second Chamber member Nancy Pelosi and First Chamber minority member Chuck Schumer, who he said was “simply not ready to compromise.”
His message to negotiators: “Let’s do this”, suggests that there could now be a trillion $ 1 trillion bill and maybe later this year or early 2021.
“This will be the fifth bill, we can always come back later in the year, like in January, and do a sixth bill, we do not have to do everything at once… Our opinion is, let’s spend a little over a trillion dollars on areas of the economy that will now be very impactful, on which we can agree. And if we have to do more, we will come back and do more and work together, but now is the time to have bipartisan support, ”he said.
Mnuchin also reiterated the president’s suggestion that the administration consider a capital gains cut that would require legislation.
“Now, the president wants to do, capital gains tax cuts and we need legislation to do what we want on that front,” he said, going out to explain how previous similar cuts stimulated economic investment.
‘That’s what we need now because of Covid. “I think we need to reduce these capital gains in the coming years, although we are recovering,” he added. with the Democratic ticket.
“You see two very different economic policies. “One is more taxing and damaging the economy, one is making selective tax changes regulating relief and trading of economic agenda that will stimulate the economy,” he said.
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