Steven Mnuchin

The top Democrat on the tax-writing Senate Finance Committee said a bipartisan tax deal is impossible if Treasury Secretary Steven Mnuchin can’t commit to an overhaul that avoids giving the highest-earning Americans a tax cut.

President Donald Trump won’t veto a tax bill even if it provides the wealthiest Americans with a tax cut, according to Treasury Secretary Steven Mnuchin.

‘Accounting maneuvers’ have kept the country from hitting the limit already.

U.S. tax revenue is running as much as $70 billion behind estimates more than halfway through the fiscal year, leaving the government with less cash than planned and adding to pressure on Congress to raise the debt ceiling.

A pledge not to give the wealthiest Americans an absolute tax cut is coming back to haunt Treasury Secretary Steven Mnuchin.

Trump's budget aims to cut approximately $3.6 trillion in spending, in part from eligibility changes for the Earned Income Tax Credit and Child Tax Credit.

House Speaker Paul Ryan says he agrees that his proposal for a border-adjusted tax needs to be changed if it’s to pass Congress, but he said he’s not giving up on the idea.

Presidents have long used creative math and budget gimmicks to create the illusion that the trillions of dollars in spending they propose will somehow wind up reducing the deficit. Donald Trump’s $4.1 trillion budget is especially ambitious: It combines many of the tricks his predecessors tried over the years, and adds a few of his own.

House Ways and Means Chairman Kevin Brady said he’s open to reviewing parts of the House Republican tax blueprint as Congress looks for a path forward on trying to make U.S. businesses more competitive globally—even as Treasury Secretary Steven Mnuchin offered his most direct criticism of the plan yet.

Treasury Secretary Steven Mnuchin said that he can’t guarantee that the White House’s goal of no tax cuts for the wealthiest earners will survive the legislative debate.