Trump's tax cut aim doubtful: USA treasury secretary

Mnuchin says considering backdating tax cut to January 1 Would be 'boon&apos to economy

David A. Grogan | CNBC. Steven Mnuchin said tax reform is Trump's top priority assuring that the administration will pass a tax

Mnuchin said he doesn't know if he can achieve the Trump administration's goal to lower the corporate tax rate to 15 percent.

The Treasury secretary also evaded questions about possible exceptions to the elimination of the special treatment of so-called carried interest for hedge fund managers.

To view the full article, register now. But other firms-"entities that do create jobs", Mnuchin said-may still qualify. The top individual income tax rate is 39.6 percent, though Trump and congressional Republicans have proposed cutting it to 35 percent. Mnuchin and Short both said details will come later this month. White House legislative director Marc Short says its principles for the tax overhaul will be released "in a matter of days, not weeks". They also said the deal gives leverage to Democrats in future talks over the borrowing limit and tax reforms.

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Solfatara's crater fields are scorching hot only a few inches below the surface and last erupted in 1198, the Daily Mail said. It is a dormant volcano, but still emits jets of steam with sulfurous fumes and is part of the Campi Flegrei volcanic area.

Treasury Secretary Steven Mnuchin amped up expectations of tax reform before the year is out on Tuesday morning, even bringing up the possibility of backdating changes to January 1.

Mnuchin said he would consider including an infrastructure spending bill as part of the tax overhaul legislation. "As I said this is a pass-fail exercise". "Passing tax reform, which hasn't been done in 31 years, that's a win". The major hurdle is how to fund the cut.

Trump broke with Republican leaders last week when he agreed with Democrats to lift the debt ceiling, fund the government for three months and approve $15 billion in disaster aid for victims of Hurricane Harvey. "The president wants to increase military spending and that's something he is going to demand for December".

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