Mnuchin backs off Trump's promise of 10% middle-class tax cut

Mnuchin said he’s hoping to work with Congress on “some minor technical corrections” to the law, such as a drafting error that denies retailers and restaurants a tax break when they make renovations. He downplayed the prospect of the middle-class tax cut that Trump campaigned on in the days leading up to the midterm elections.

“I’m not going to comment on whether it is a real thing or not a real thing,” Mnuchin said in a roundtable interview Tuesday at Bloomberg’s Washington office. “I’m saying for the moment we have other things we’re focused on.”

Trump, to the surprise of his allies in Congress, announced in late October that he was working on an additional 10 percent tax cut for the middle class. Days later, Mnuchin said he has been working with House Republicans on another tax plan that would be released “shortly.”