Treasury removes report contradicting Mnuchin on tax cuts
Treasury Secretary Steven Mnuchin speaks at a news conference in Las Vegas. Photo: John Locher / AP
The Treasury Department has taken down a 2012 economic analysis that contradicts what Secretary Mnuchin has said about the effects of corporate tax cuts, the WSJ reports. What happened:
- Mnuchin said workers benefit the most from corporate income tax cuts.
- The 2012 analysis from the Office of Tax Analysis revealed that workers pay 18% corporate taxes, whereas owners of capital pay 82%, so cutting them impacts owners more.
A Treasury spokeswoman told the WSJ the paper was "dated" and "does not represent" current thinking at Treasury.