May 18, 2017

Mnuchin claims 3% growth potential if taxes overhauled

J. Scott Applewhite / AP

Treasury Secretary Steve Mnuchin told the Senate Banking, Housing, and Urban Affairs Committee Thursday that a goal of 3% growth is achievable for the country if America's tax system and regulations are changed, per the AP. This is his first appearance before the committee since his swearing in.

Put that in perspective: The difference between 2% and 3% growth is trillions of dollars over 10 years, per Mnuchin.

More juice: Mnuchin says he's got 100 bodies working on tax system reform and that they're working on far more than just undoing the Dodd-Frank Act. Reforms are going to focus on providing relief to community banks, he said.

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Situational awareness

Photo: Drew Angerer/Getty Images

Catch up on today's biggest news:

  1. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  2. Trump misrepresents 2020 Russia briefing as Democratic "misinformation"
  3. Bernie Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"
  4. Nearly half of Republicans support pardoning Roger Stone
  5. Scoop: Lyft acquires cartop advertising startup Halo Cars

Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"

Photo: Mario Tama/Getty Images

Bernie Sanders told CBS "60 Minutes" that he was surprised by Mike Bloomberg's lackluster performance at Wednesday's Democratic debate.

What he's saying: "If that's what happened in a Democratic debate, you know, I think it's quite likely that Trump will chew him up and spit him out."

Scoop: Lyft acquires cartop advertising startup Halo Cars

Photo: Drew Angerer/Getty Images

Lyft has acquired Halo Cars, a small startup that lets ride-hailing drivers earn money via ad displays mounted atop their cars. Lyft confirmed the deal but declined to share any details.

Why it matters: Ride-hailing companies are increasingly eyeing additional ways to generate revenue, and Lyft rival Uber has been quietly testing a partnership with New York-based Cargo that gives it a cut of the advertising revenue, as I previously reported.