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VOL. 41 | NO. 19 | Friday, May 12, 2017
Treasury chief says US can achieve 3 percent economic growth
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin says a goal of 3 percent economic growth is achievable if the United States makes historic changes in taxes and regulation.
Mnuchin is testifying before the Senate Banking, Housing and Urban Affairs Committee — his first appearance before that committee since being sworn in.
He says 100 people at his department are working on overhauling the tax system — and the Trump administration's goal is to bring "meaningful relief" to the middle class and makes American businesses competitive.
Mnuchin says the Treasury Department is preparing a report on regulatory changes for the finance system. He says it'll be broader than undoing much of the Dodd-Frank law enacted under President Barack Obama.
Mnuchin says the report will focus on providing relief to community banks.