Treasury Secretary Steven Mnuchin said on Wednesday he “cannot speculate” on whether another stimulus bill will be passed in the near term, days after negotiations go. to a standstill. He also called for capital tax cuts and rarely criticized (for him) Joe Biden̵7;s economic policies.
“I cannot speculate. If Democrats are willing to make sense, there’s a compromise. If Democrats are focused on politics and don’t want to do anything that can bring success to the President, there won’t be a deal, ”Mnuchin said in an appearance on Fox Business.
He was against House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, whom he said was “not willing to compromise.”
His message to the negotiators: “Let’s do this,” hinting that there might be a bill of around $ 1 trillion right now and maybe another by the end of the year or early 2021.
“This will be the fifth bill, we can always come back by the end of the year or in January, and for the sixth bill, we don’t have to do everything at once… Our point is Let’s spend a little more than a trillion dollars on areas of the economy that are currently having a huge impact that we can agree on. And if we need to do more, we will go back and do more and work together but now is the time for bipartisan support, ”he said.
Mnuchin also reiterated the President’s suggestion that the administration is considering cutting capital income tax, which would require law.
“Well, the president wants to do it, the tax cuts from capital increase and we need the law to do what we want on that front,” he said, continuing to explain the similar cuts. how the previous self stimulated economic investment.
“That’s what we need now for Covid. So I think in the next few years while we recover, we should reduce those capital gains, ”he added, continuing, in an unusual move for Mnuchin, criticizing Joe Biden for voted against a reduction in capital gains in 2003 and offered conflicting policy opinions with Democrats.
“So again you see two very different economic policies. One is taxing more and hurting the economy, the other is creating selective tax cuts to ease regulation and economic agenda transactions that will stimulate the economy, “He said.