Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stef W. Kight / Axios

Treasury Secretary Steve Mnuchin joined Axios' Mike Allen this morning at the debut of his News Shapers event series to talk about his new role in the Trump Administration.

On AI supplanting human jobs: "it's not even on our radar screen.... 50-100 more years" away. "I'm not worried at all" about robots displacing humans in the near future, he said, adding: "In fact I'm optimistic."

Other big ticket items:

Trump:

  • Trump's stamina: "He's got perfect genes. He has incredible energy and he's unbelievably healthy."
  • Trump's diet: Mnuchin claimed Trump no longer eats KFC or McDonald's, as the White House food is "great."
  • The dollar bill: "I think we should look at putting President Trump on the thousand dollar bill."
  • Trump's views evolving: "He's the negotiator-in-chief... he wants big deals."
  • Trump's leadership style: "He has an open door. People are coming and going, and he thinks about something and calls somebody on the phone... this is not a formal, scheduled president."

Tax reform:

  • "Much simpler" than health care reform, saying the Trump administration will do it comprehensively. Not going to break it up into more passable pieces.
  • Corporate tax rate: Mnuchin declined to reiterate Trump's goal of a 15% corporate tax rate, vs. Ryan's 20% plan.
  • Carried interest loophole: Mnuchin said the loophole will be closed in our tax plan. But that's for hedge funds. No commitment on real estate, etc.
  • Border adjustment tax: It has certain aspects that are VAT-like, which much of the rest of the world uses.
  • The focus of tax cuts: Mnuchin said the Trump administration's focus is on tax cuts for the middle class, not upper.

The global economy:

  • Renegotiating trade deals: "So long as we can renegotiate [trade] deals that are good for us, we won't be protectionist. Otherwise we will."
  • The one bad thing: We don't know how to predict the next bad thing.
  • Trump's big objective: Keep people safe, per Mnuchin.
  • Does Mnuchin worry about who is calling Trump? "No. Do you?"

On Silicon Valley, tech and jobs:

  • Valuations: "I don't understand these valuations."

Infrastructure:

  • Infrastructure finance: "It's clear he wants to do something very significant," Mnuchin said, referenced Trump's wish list. He added it wouldn't be deficit-financed.
  • The big problem: Regulations, not the money.

Go deeper

1 hour ago - World

Special report: Trump's U.S.-China transformation

Illustration: Aïda Amer/Axios

President Trump began his term by launching the trade war with China he had promised on the campaign trail. By mid-2020, however, Trump was no longer the public face of China policy-making as he became increasingly consumed with domestic troubles, giving his top aides carte blanche to pursue a cascade of tough-on-China policies.

Why it matters: Trump alone did not reshape the China relationship. But his trade war shattered global norms, paving the way for administration officials to pursue policies that just a few years earlier would have been unthinkable.

McConnell: Trump "provoked" Capitol mob

Senate Majority Leader Mitch McConnell (R-Ky.) said on Tuesday that the pro-Trump mob that stormed the U.S. Capitol on Jan. 6 was "provoked by the president and other powerful people."

Why it matters: Trump was impeached by the House last week for "incitement of insurrection." McConnell has not said how he will vote in Trump's coming Senate impeachment trial, but sources told Axios' Mike Allen that the chances of him voting to convict are higher than 50%.

2 hours ago - Politics & Policy

GOP leaders skip Trump sendoff in favor of church with Biden

House Speaker Nancy Pelosi (D-Calif.), Senate Majority Leader Mitch McConnell (R-Ky.), Senate Minority Leader Chuck Schumer (D-N.Y.) and House Minority Leader Kevin McCarthy (R-Calif.) in July. Photo by Erin Scott-Pool/Getty Images

Congressional leaders, including House GOP leader Kevin McCarthy and Senate Majority Leader Mitch McConnell, will skip President Trump's departure ceremony in Maryland tomorrow morning in favor of attending mass with incoming President Joe Biden ahead of his inauguration, congressional sources familiar with their plans tell Axios.

Why it matters: Their decision is a clear sign of unity before Biden takes the oath of office.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!