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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Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Pence chief of staff Marc Short tests positive for coronavirus — COVID-19 looms over White House Halloween celebrations
  2. Health: Fauci says maybe we should mandate masks if people don't wear them — America was sick well before it ever got COVID-19
  3. World: Polish President Andrzej Duda tests positive for COVID-19.

Pence chief of staff Marc Short tests positive for coronavirus

Marc Short with Katie Miller, Vice President Pence's communications director, in March. Photo: Doug Mills/The New York Times via Reuters

Marc Short, Vice President Mike Pence’s chief of staff, tested positive for the coronavirus Saturday and is quarantining, according to a White House statement.

Why it matters: Short is Pence's closest aide, and was one of the most powerful forces on the White House coronavirus task force.

5 hours ago - World

Opposition leader Leopoldo López flees Venezuela

Venezuelan opposition politician Leopoldo López outside the Spanish embassy in Caracas, in 2019. Photo: Juan Barreto/AFP via Getty Images

Leopoldo López, a former political prisoner and prominent Venezuelan opposition leader, has left the country, his Popular Will party confirmed in a statement Saturday.

Why it matters: He's been an influential force in the push to oust President Nicolás Maduro's regime and a mentor to opposition leader Juan Guaidó. He'd been in the Spanish ambassador's Caracas residence since escaping house arrest in April 2019 following a failed military uprising.