Mnuchin: GOP tax law's 'whole purpose' was giving companies more money to compete
Treasury Secretary Steven Mnuchin said Thursday that the “whole purpose” of the GOP tax bill was to “put more money” in the U.S. business sector to allow companies to be more competitive internationally.
“The whole purpose of the tax cut act was to put more money in companies so they could compete competitively with international companies,” Mnuchin told reporters at a White House press briefing. “I think you know we had one of the highest tax rates in the world. We taxed on worldwide income [and] we changed that.”
“This is really a revolutionary process,” he continued. “We thought it would be great for the economy and we’re thrilled with already the number of companies that we see reacting accordingly.”
Mnuchin was responding to a question about Walmart following its announcement that it would raise the starting minimum wage for new employees to $11 an hour and expand parental leave.
The Treasury chief praised the move, saying the administration “appreciates what Walmart is doing.”
http://thehill.com/policy/finance/368553-mnuchin-whole-purpose-of-gop-tax-law-was-to-give-companies-more-money-to
Appreciates them laying off people and closing stores?
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