A Democratic senator hammered Treasury Secretary Steven Mnuchin on Tuesday for backing off his statement that the Trump administration will not give the wealthy an "absolute tax cut."
In a November CNBC interview, the Treasury secretary declared that "any reductions we have in upper-income taxes will be offset by less deductions so that there will be no absolute tax cut for the upper class." In recent public appearances, he has described that as a goal that may not happen, rather than a pledge.
Democratic Sen. Ron Wyden of Oregon — who coined Mnuchin's January statement as the "Mnuchin rule" — said Tuesday that he had seen a "very substantial retreat" on the issue. Wyden pointed to the Treasury secretary's Monday House testimony in which he said Trump will not veto a tax bill even if it gives a tax cut to the wealthiest Americans.
"Mr. Secretary, you made a commitment that there would be no absolute tax cut for the wealthy. And yesterday, you changed that. You said, we have an objective to do that. So maybe, it'll happen maybe it won't," Wyden said.