Tax reform, repatriation of dollars top priority: Mnuchin

Trump announced his intent to nominate Mnuchin Wednesday morning in a statement that also confirmed billionaire investor Wilbur Ross as his pick Secretary of the U.S. Department of Commerce and Todd Ricketts, co-owner of the Chicago Cubs, for Deputy Secretary of Commerce.

During the presidential campaign Mr. Mnuchin, whose wife Heather’s family have been summer residents in Southampton for many decades, served as Mr. Trump’s campaign finance chairman.

The New York Times said ahead of the appointment that Mnuchin is an outsider to public policy.

“I think we can absolutely get to sustained 3% to 4% GDP”.

Both Trump nominees were Trump loyalists throughout much of the campaign.

“Wilbur Ross is a champion of American manufacturing and knows how to help companies succeed”, Trump said. “We want to cut the corporate taxes, which will bring back growth”.

U.S. Treasury Secretary-nominee Steven Mnuchin outlined an economic agenda aimed at nearly doubling the growth rate of the current expansion, saying he will boost jobs by making tax reform his overriding priority.

The changes should help increase sustained US economic growth, he predicted.

“There will be no absolute tax cut for the upper class”, he said. “This will be the largest tax change since Reagan”. We’ve talked about this during the campaign.

“I can’t be bought”, Trump said during the campaign.

The Wall Street veteran said in a CNBC interview that the new administration also planned to cut the corporate tax rate from 35% to 15%.

“That we have roads and bridges and power grids and infrastructure that support this country, and that’s going to be a big focus”, he added.

“It’s important to recognize that everyone’s perspective and policy and government is shaped by the kind of life you’ve lived”, Nicholas Carnes, a political scientist at Duke University, told the Post. “We need to make sure that our infrastructure is built for the 21st century”, he asserted. Fitch Ratings, one of the three largest companies that issue credit ratings on government debt, said in a report Wednesday that it expects the USA debt and deficits to go up. OneWest sent another bill for $0.30 but Lofton sent the bank just $0.03. He purchased IndyMac Bank for Dollars 1.6 billion and ran it very professionally, selling it for USD 3.4 billion plus a return of capital. “As the economy further recovers from the Great Recession it is imperative that the housing industry and Treasury work in hand and hand to ensure housing and economic prosperity”.

Mnuchin is a veteran of Goldman Sachs who now runs a private hedge fund, Dune Capital Management. But regulators soon questioned OneWest’s foreclosure practices, which included so-called robo-signings that pushed homeowners into foreclosure without proper review or due process. After leaving the investment bank in 2002, the Yale graduate pivoted into hedge fund management and producing blockbuster movies such as “Batman vs Superman: Dawn of Justice”.