Treasury Pick Promises Huge Tax Changes

Advisor Steven Mnuchin arrives at Trump Tower in New York on Nov. 17.

(Undated) — President-elect Donald Trump’s pick for Treasury secretary is promising the “largest tax change since Reagan.”

Steven Mnuchin tells CNBC the incoming Trump administration will slash corporate taxes to bring “huge amounts of jobs back to the United States.”

He also says there will be a big tax reduction for the middle class.

Mnuchin said any tax cuts for high earners would be offset by allowing fewer deductions.

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