Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
Asian cities are on the rise and are dominant in the Fintech space.Financeread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The Pentagon on Thursday said the recent attack on Saudi Arabian oil facilities were "sophisticated" and represented a "dramatic escalation" in tensions within the region.Defenseread more
The flap illustrates the growing distrust of the YouTube community, and willingness to assume the worst in light of unclear communication.Technologyread more
Four years ago Microsoft had just two women on its board. Walmsley is now the fifth.Technologyread more
AT&T isn't focused on selling or divesting DirecTV, despite pressure from stakeholder Elliott Management, sources tell CNBC.Technologyread more
Treasury Secretary Steven Mnuchin said Tuesday the Trump administration hopes to pass a plan to overhaul the U.S. tax system by the end of the year.
"Our objective is to get that done this year, and I'm still hopeful that that's the case," he said at the Peterson Foundation Fiscal Summit.
Mnuchin stated clearly that "we're not going to get that done by August," again backing away from the original timeline the White House set for tax reform.
Tax cuts — a central Republican priority — fueled investor optimism after President Donald Trump 's election in November and underpin the optimistic economic growth expectations held by the White House. Amid the GOP's struggle to pass its plan to replace the Affordable Care Act, a coming appropriations process in Congress, and investigations into the Trump campaign, hopes for Republicans quickly passing their agenda have recently stalled.
Senate Majority Leader Mitch McConnell recently said he hoped to get tax reform passed in the current Congress, hinting he may not be hopeful about it passing this year.
The Trump administration has released only a one-page summary of its tax proposal, which largely overlapped with the plan the president outlined as a candidate. Mnuchin said Tuesday the White House is still working with Congress on the details of a "unified plan that the House and Senate will support."
After Trump's election, Mnuchin told CNBC that wealthy Americans would get no "absolute tax cut." That would mean any cuts they did get under Trump's plan — including a big drop in the top income tax rate — would be offset by closing loopholes the wealthy use.
On Tuesday, Mnuchin hedged on that claim. He said delivering a "middle-income tax cut" is the White House's "intent," but added he "can't say what the results will be" because of Congress.
The Treasury secretary stuck to the administration's goal of 3 percent sustained economic growth but said it likely would not happen this year and would take place over time. Gross domestic product only grew 1.6 percent in 2016.