U.S. Treasury Secretary Steven Mnuchin on Friday said he was not worried by the fact that Washington’s tax revenues were lower than expected and also said he had a backup plan for funding government if Congress did not raise the debt ceiling by August.
A May 5 report by the nonpartisan Congressional Budget Office said government tax receipts for early 2017 were 3 percent lower than expected.
“Receipts are coming in somewhat lower, and I think that’s in expectation of that (sic) we’re going to do tax reform,” Mnuchin told a news conference in the Canadian capital Ottawa.
“I’ve been consistent in (saying) we hope Congress deals with the debt limit as soon as possible but in any event, we’re not concerned. We’re focused on … the credit of the U.S.,” he added.
Mnuchin wants lawmakers to raise Washington’s borrowing limit before they break for a long recess in August.
Asked what would happen if Congress did not act before then, he replied: “We will be fine if they (Congress) don’t do it beforehand … we have plans and back-up plans for funding the government.”
(Reporting by Lindsay Dunsmuir and Leah Schnurr; writing by David Ljunggren; Editing by Nick Zieminski)
Trump aide told investigators Paul Manafort began spreading Ukraine conspiracy theories as soon as DNC server hack was revealed
On Friday, a new batch of documents recording the interviews former special counsel Robert Mueller's prosecutors held with aides to President Donald Trump was released, as part of a Freedom of Information Act request by BuzzFeed News.
One of the revelations in the interviews with Rick Gates, who served as an aide to former Trump campaign chairman Paul Manafort, was that Manafort began pushing conspiracy theories about Ukraine at the same time that the Russian hack into the Democratic National Committee became publicly known.
CNN’s Jim Acosta walks through all the times Trump has ‘thrown gasoline’ on racial tension
On CNN Friday, following President Donald Trump's abrupt exit from a press conference following a racially charged tweet, chief White House correspondent Jim Acosta broke down President Donald Trump's history of stoking racial tensions during moments of crisis.
"He is trying to clean up this tweet that he posted last night," said Acosta. "First, just what the president said a few moments ago. He said the looters in Minneapolis should not be able to drown out the voice of so many peaceful protesters. That, obviously, is a very mild version of what he was trying to say or he claims he was trying to say last night when he tweeted, "when the looting starts, the shooting starts." That obviously is an expression steeped in all kinds of ugliness. The Miami Police chief back in 1967, when there was unrest in that city, used that expression. George Wallace, the segregationist, used words like that in 1968."
Joe Biden takes on Trump’s rhetoric during racial justice crises: ‘The words of a president matter’
Former Vice President Joe Biden talked about the importance of a president's words and accountability during times of crisis during a Friday appearance on MSNBC.
Biden was interviewed by Craig Melvin, who noted the protests tearing apart cities and asked where he would start if elected president.
"I start by talking about what we must be, making no excuses, talking about our obligation to be decent," Biden answered. "Our obligation to take responsibility, our obligation to stand up when we see injustice."
"Look, the words of a president matter -- no matter how good or bad that president is," he explained. "A president can, by their words alone no matter who they are, make it rise or fall, take us to war, bring us to peace. The words of a president matter."