Steven Mnuchin, a 17-year veteran of investment bank Goldman Sachs, has been sworn in as head of the Treasury Department after the Senate confirmed him Monday through a 53-47 vote, Reuters reported Monday.
David Lawder writes Mnuchin will oversee tax reform, financial de-regulation and economic diplomacy efforts as the Treasury secretary.
He will manage a tax reform plan that seeks to lower business tax rates and implement a new border tax adjustment system designed to boost U.S. exports.
Trump said that Mnuchin will support the administration’s ongoing push for middle-class tax reductions and financial reforms meant to create millions of new jobs as well as foster financial security and defend manufacturing jobs from potential threats.
The report said the Trump administration vowed to revert strict financial regulation under the Dodd-Frank reform law as well as pursue trade policies on China and Mexico to address U.S. trade deficits and mitigate business tax rates.