Treasury Secretary Steve Mnuchin said Sunday that permanent corporate tax cuts are necessary to spur economic growth before making individual tax cuts permanent.
Host Chris Wallace challenged Mnuchin, saying he doesn’t know what factors will be at play in 2025 or whether Congress would extend the tax cuts at that point.
“I don’t know that. Maybe I’ll be working for President Pence at the time, but I don’t know that,” Mnuchin said on “Fox News Sunday.” “We’ll know by then whether this creates growth or not. If it does, we’ll have an incredible economy… if it doesn’t, Congress will deal with it at the time.”
A modified version of the Senate tax bill released last week shows that while a corporate tax cut would be permanent, individual tax cuts would expire in 2025.
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