Treasury’s tax analysis still missing ahead of key Senate vote


Business News - Opportunities - Reviews



Treasury’s tax analysis still missing ahead of key Senate vote – Nov. 30, 2017

Republicans defend growing the deficit with corporate tax cuts

Democratic Sen. Elizabeth Warren is demanding answers from Treasury about why Secretary Steven Mnuchin has yet to release an economic analysis of the GOP’s tax overhaul plan, despite repeated promises that he would.

The missing analysis, highlighted in a New York Times story Thursday, has prompted Warren to call for an investigation before the Senate prepares to vote on its sweeping tax reform plan Friday.

‘; var storytext = document.getElementById(‘storytext’); var heightToSkip = 0; function resetValues() { totalHeight = 0; targetChildElement = null; }
// Check if story is in the blacklist of articles to remove smartassets // [2017.07.27] Results of a one-off request from r.barbieri if(BLACKLIST[location.pathname] === true) { return } if(storytext == null) { console.log(“Error finding storytext element for SA embed”); return; } for ( i = 0; i 0) { heightToSkip -= storytext.childNodes[i].clientHeight; resetValues(); } else if(heightToSkip minHeight && targetChildElement != null) { //console.log(“total height = ” + totalHeight); //console.log(“childNode = ” + targetChildElement); storytext.childNodes[targetChildElement].insertAdjacentHTML(‘afterend’, smartAssetDiv); smartasset = document.getElementById(‘smartasset-article’); = ‘left’; // allows module to have text float to right =’20px’; =’25px’; //console.log(storytext.childNodes[targetChildElement]); //SMARTASSET.setDivIndex(targetChildElement); SMARTASSET.setSmartAssetScript(); /* bail out since we’re done */ break; } } /* div with id=”smartassetcontainer”. Sanity check to only embed once */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].id !== “undefined” && storytext.childNodes[i].id === “smartassetcontainer”) { break; } /* div with id=”ie_column” */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].id !== “undefined” && storytext.childNodes[i].id === “ie_column”) { resetValues(); } /* embeds from twitter, facebook, youtube */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].classList.contains(’embed’)) { resetValues(); } /* cnn video player */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’ && storytext.childNodes[i].classList.contains(‘cnnplayer’)) { resetValues(); } /* images */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘img’) { resetValues(); } /* images stored in figure tags */ else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘figure’) { if(storytext.childNodes[i].clientWidth

In a letter to the Treasury Department’s inspector general, Warren questioned whether Mnuchin had “misled the public about the extent of the Treasury Department’s analysis, “despite his repeated public assurances that an analysis existed and the tax plan would “pay for itself.”

Related: Even with growth, the Senate tax bill still adds $1 trillion to deficits

“Either the Treasury Department has used extensive taxpayer funds to conduct economic analyses that it refuses to release because those analyses would contradict the Treasury Secretary’s claims, or Secretary Mnuchin has grossly misled the public about the extent of the Treasury Department’s analysis,” Warren wrote in the letter.

“I am deeply concerned about either possibility,” she added.

A Treasury spokeswoman was not immediately available to comment.

Mnuchin has repeatedly pledged that more than 100 career staff members were “working around the clock on running scenarios” to show how the costs of the $1.5 trillion GOP proposal would be covered by economic growth. He even noted in September that an in-house analysis showed the bill would reduce the deficit by $1 trillion rather than increase it.

Related: Republicans working on tax hike ‘trigger’ to ease deficit concerns

At The Wall Street CEO Council conference earlier this month, Mnuchin reaffirmed that Treasury had completed an analysis and pledged “complete transparency” in its accounting for the growth benefits of the tax plans.

But hours before the Senate had planned to begin voting on the measure, the agency has yet to release anything.

In her letter, Warren asked the inspector general to find out whether Treasury’s staff were directed to analyze the Republican tax proposal at all and if so, why the results weren’t publicly released or given to Congress. She also asked the inspector to look into whether there was any political interference that would have impacted the outcome of the analysis or who participated in the efforts.

CNNMoney (Washington) First published November 30, 2017: 8:25 PM ET


try { window._mNHandle.queue.push(function () { window._mNDetails.loadTag(“461374455”, “780×218”, “461374455”); }); } catch (error) {}



Business News - Opportunities - Reviews



Leave a Reply