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Treasury’s Mnuchin says not concerned by lower US tax receipts

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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.

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“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.”

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(Reporting by Lindsay Dunsmuir and Leah Schnurr; writing by David Ljunggren; Editing by Nick Zieminski)


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Appearing on CNN on Friday morning to discuss an alarming whistleblower report on Donald Trump's actions that the president's administration is withholding from Congress, Rep. Eric Swalwell (D-CA) encouraged the acting Director of National Intelligence to hand the report over and ignore the administration.

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Today is the Global Climate Strike, inspired by 16-year-old Swedish activist Greta Thunberg. As people took to the streets in Africa, Asia, Europe and Australia, we host a roundtable discussion with youth activists organizing marches in the United States — in New York City, Washington, D.C., and Minneapolis — ahead of next week’s U.N. Climate Action Summit. We are joined by Xiye Bastida, a 17-year-old climate justice activist originally from Mexico who is an organizer with Fridays for Future New York and a student at Beacon High School in New York; Katie Eder, a 19-year-old climate justice activist who founded the Future Coalition, where she is currently the executive director; Juwaria Jama, a 15-year-old and first-generation Somali from Minneapolis, Minnesota, who is with U.S. Youth Climate Strikes and is the co-state lead for the Minnesota Youth Climate Strike; and Isra Hirsi, a high school junior and executive director of the U.S. Youth Climate Strike, daughter of Democratic Representative Ilhan Omar.

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