Steven Mnuchin takes a question at a press briefing at the Hilton Midtown hotel during the United Nations General Assembly. Photo: Andres Kudacki / AP

Treasury Secretary Steve Mnuchin conceded to Politico's Ben White that the tax plan he helped design cuts taxes on the wealthy, but said it's "very hard" to implement tax cuts without doing so. He also said the current Wall Street boom is thanks in part to the expectation that Congress will overhaul the tax code. If it fails, he warned, the market could tank.

  • Mnuchin said he was aware nixing state and local tax deductions could hurt middle-class Americans and that Congress and the White House are "working on fixing that right now."
  • He would not say which candidate Trump will select to run the Fed.

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Ilhan Omar wins Minnesota primary

Photo: Stephen Maturen/Getty Images

Rep. Ilhan Omar (D-Minn.) won the Democratic primary against lawyer Antone Melton-Meaux on Tuesday evening, AP reports.

Why it matters: The race is one that's played out across the U.S. as progressives continue to sweep party nominations. Omar's win officially means all four progressive members of "The Squad" have won their primary elections.

Updated 3 hours ago - Politics & Policy

25 face felony charges after downtown Chicago hit by looters

Police officers inspect a damaged Best Buy in Chicago that was looted and vandalized. Photo: Scott Olson/Getty Images

Local police officers are seeking felony charges in 25 cases following the arrest of 100 people in the wake of widespread looting and property damage in Chicago on Monday, per the Washington Post.

Driving the news: Law enforcement said the event involving hundreds of people was a coordinated response after an officer shot a suspect Sunday evening, according to CBS Chicago.

Marjorie Taylor Greene wins Georgia's 14th district runoff

Photo: Elijah Nouvelage / Getty Images

Gun-rights activist Marjorie Taylor Greene defeated physician John Cowan in a runoff election for the Republican nomination in Georgia's deep-red 14th Congressional District on Tuesday, AP reports.

Why it matters: Greene, a vocal QAnon conspiracy theorist who has been condemned by GOP leaders for making multiple offensive remarks about Black people, Jews and Muslims in Facebook videos, is likely to win a seat in the House come November.