Treasury Secretary: ‘I Can’t Make Any Guarantees’ Middle Class Won’t Pay More Under Trump Tax Plan

Claims No Absolute Tax Cuts for Wealthy

Treasury Secretary Steve Mnuchin unveiled a one-page tax reform plan Wednesday that the President has called a “massive” tax cut and wrongly claimed it would be the “biggest” in history. Financial experts were stunned at the lack of even basic details, but the White House pushed back promising American families will see significant savings.

Thursday morning, Treasury Secretary Mnuchin appeared on ABC News’ “Good Morning America,” and admitted he can’t promise middle class families will actually get a tax cut. 

“Can you guarantee no one in the middle class is going to pay more?” George Stephanopoulos asked.

Mnuchin said that’s their goal, but, “I can’t make any guarantees until this thing is done and it’s on the president’s desk.”

“But I can tell you, that’s our number one objective in this,” he said.

Contrary to nearly all reports, Secretary Mnuchin claimed Trump’s tax reform plan will offer no tax cuts for the wealthy. 

“Another ‘objective’ of the plan, Mnuchin said, is to ensure no absolute tax cuts for the wealthy,” ABC News reports. “But he declined to make any guarantees on that point as well, and said he couldn’t say how the plan would affect Trump himself.”

“Let me just say this isn’t about President Trump’s tax returns; this is about the American public’s tax returns,” Mnuchin said. “This is about creating economic effect for small and medium-sized businesses and making sure they have the same opportunities as large corporations.”

Experts say the tax cuts will not pay for themselves and explode the deficit.

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