Treasury Secretary Steven Mnuchin said Wednesday that he “cannot speculate” on whether another stimulus bill will be passed in the near term, days after talks 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 reasonably willing, there will be a compromise. If Democrats are focused on politics and don’t want to do anything that can bring success to the President, there will be no 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,” suggests that there could be a bill of about $ 1 trillion right now and maybe another by the end of the year or early. year 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 various sectors of the economy now will have a huge impact, which we can agree. 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 taxes, which would require legislation.
“Well, the President wants to do, 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 same cuts that previously stimulated economic investment like.
“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 policy contradictions with Democrats.
“So again you see two very different economic policies. One is to tax more and hurt the economy, the other is to create selective tax cuts to mitigate regulation and economic agenda transactions that will stimulate the economy. , ”He said.