Tags: Donald Trump | Financial Markets | Paul Ryan | Trump Administration | border | adjustment | tax

Report: Trump Not Backing Ryan's Border Adjustment Tax

Image: Report: Trump Not Backing Ryan's Border Adjustment Tax
Treasury Secretary Steven Mnuchin (Getty Images/Thomas Kienzle)

By    |   Tuesday, 23 May 2017 08:24 PM

Treasury Secretary Steven Mnuchin assured Freedom Caucus members and other House conservatives President Donald Trump is opposed to Speaker Paul Ryan's, R-Wis., proposed border adjustment tax, Axios reported.

According to Axios, Mnuchin met with the conservatives Tuesday and told them neither he nor the president support the tax, which was a core facet of the GOP tax plan pushed by Ryan to offset revenue lost through tax cuts.

Mnuchin even encouraged Freedom Caucus members to talk to Ryan about the tax, Axios reported, citing one unnamed source.

"Secretary Mnuchin gave great insight into the thinking of the administration on tax reform," Freedom Caucus chairman Mark Meadows, R-N.C., told Axios after the meeting. 

"We are well-served by his leadership. It became apparent that there is a growing consensus in the administration that we must act soon to advance tax reform and BAT [the border adjustment tax] is seen as a major impediment."

Axios reported without the support from the administration, the board adjustment tax is "dead on arrival."

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Treasury Secretary Steven Mnuchin assured Freedom Caucus members and other House conservatives that President Donald Trump is opposed to Speaker Paul Ryan's proposed border adjustment tax, Axios reported.
border, adjustment, tax, Steven Mnunchin
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2017-24-23
Tuesday, 23 May 2017 08:24 PM
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