Key Focus

  • You had projected OMB a 3.2% growth in FY 19. The congressional budget office said 2.4, quite a difference. Well we now have the actual, it's 2.3 very close to OMB. Now we don't have the actuals for any of the other years, but the differences between CBO and OMB is pretty dramatic on the economic numbers
  • At the end of the day, the projections are dependent upon GDP and economic numbers going forward and a big difference between the CBO projections and ours are economic growth projections going forward.
    Speaker 1: (53:52)
    You can understand how we are concerned about the tax bill adding greatly to the deficit because congressional budget office has been much more accurate than OMB. I just point that out and that's why we are concerned by these, we think, unrealistic growth numbers and as you said, you'll be able to come back and show us
  • Love to talk to you about that.
    Senator Cortez Masto: (01:04:40)
    But I disagree and that's my concern is this administration says one thing, but their actions are just the opposite and I think it is important for us to really talk the true facts and not what you come here and read in your statements about what the administration claims that they are doing to the benefit of our communities because I can tell you, when I go home to Nevada, there are still people struggling and I do want to talk to you about when you plan and you put together this tax bill that you've talked about and the economic growth, particularly when it comes to the budget, I keep hearing you saying that you're talking about the budget that shows gross domestic product growth will climb to 3.1% and that's your basis
  • That on social security there's just some savings in the increase of growth for fraud and other issues.
    Senator Cortez Masto: (01:04:01)
    But you do not disagree, this budget actually requests a cut of 90 billion for seniors on social security, correct.
    Secretary Mnuchin: (01:04:09)
    I believe it's not a cut


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High Level Topics

  • BUDGET
  • JOBS
  • ECONOMY
  • GROWTH
  • REFORM
  • ECONOMIC
  • CBO
  • SECURITY
  • High Level Abstractions

  • BUDGET(23, 1th Order)
  • ( BUDGET )(23, 1th Order)  top
  • ( BUDGET, SECURITY )(2, 2st Order)  top
  • ( BUDGET, GROWTH )(4, 2st Order)  top
  • ( BUDGET, ECONOMIC )(3, 2st Order)  top
  • ( BUDGET, TREASURY_DEPARTMENT )(2, 2st Order)  top
  • ( BUDGET, FUNDING )(2, 2st Order)  top
  • ( BUDGET, FAMILIES )(2, 2st Order)  top
  • ( BUDGET, WORKERS )(2, 2st Order)  top
  • ( BUDGET, WAGE )(1, 2st Order)  top
  • ( BUDGET, TRADE )(3, 2st Order)  top
  • ( BUDGET, THE_TRUMP )(2, 2st Order)  top
  • ( BUDGET, OMB )(2, 2st Order)  top
  • ( BUDGET, TRANSPORTATION )(1, 2st Order)  top
  • JOBS(14, 1th Order)
  • ( JOBS )(14, 1th Order)  top
  • ( JOBS, ECONOMY )(6, 2st Order)  top
  • ( JOBS, ECONOMY, UNEMPLOYMENT )(3, 3nd Order)  top
  • ( JOBS, ECONOMY, GROWTH )(3, 3nd Order)  top
  • ( JOBS, ECONOMY, WAGE )(2, 3nd Order)  top
  • ( JOBS, ECONOMY, TAXES )(1, 3nd Order)  top
  • ( JOBS, ECONOMY, POLICIES )(1, 3nd Order)  top
  • ( JOBS, ECONOMY, MANUFACTURING )(1, 3nd Order)  top
  • ( JOBS, ECONOMY, THE_TRUMP )(1, 3nd Order)  top
  • ( JOBS, ECONOMY, REFORM )(1, 3nd Order)  top
  • ( JOBS, ECONOMY, PRESIDENT_TRUMP )(1, 3nd Order)  top
  • ( JOBS, ECONOMY, PRESIDENT_REAGAN )(1, 3nd Order)  top
  • ( JOBS, ECONOMY, PRESIDENT_OBAMA )(1, 3nd Order)  top
  • ( JOBS, UNEMPLOYMENT )(3, 2st Order)  top
  • ( JOBS, GROWTH )(4, 2st Order)  top
  • ( JOBS, PRESIDENT_OBAMA )(3, 2st Order)  top
  • ( JOBS, WAGE )(3, 2st Order)  top
  • ( JOBS, REFORM )(3, 2st Order)  top
  • ( JOBS, PRESIDENT_TRUMP )(3, 2st Order)  top
  • ( JOBS, MANUFACTURING )(2, 2st Order)  top
  • ( JOBS, TAXES )(2, 2st Order)  top
  • ( JOBS, QUARTERS )(1, 2st Order)  top
  • ( JOBS, WORKERS )(1, 2st Order)  top
  • ( JOBS, POLICIES )(1, 2st Order)  top
  • ECONOMY(19, 1th Order)
  • ( ECONOMY )(19, 1th Order)  top
  • ( ECONOMY, GROWTH )(6, 2st Order)  top
  • ( ECONOMY, GROWTH, TAXES )(1, 3nd Order)  top
  • ( ECONOMY, GROWTH, WAGE )(2, 3nd Order)  top
  • ( ECONOMY, GROWTH, SERVICES )(1, 3nd Order)  top
  • ( ECONOMY, GROWTH, POLICIES )(1, 3nd Order)  top
  • ( ECONOMY, GROWTH, MANUFACTURING )(1, 3nd Order)  top
  • ( ECONOMY, GROWTH, ECONOMIC )(1, 3nd Order)  top
  • ( ECONOMY, GROWTH, WORKERS )(1, 3nd Order)  top
  • ( ECONOMY, GROWTH, UNEMPLOYMENT )(1, 3nd Order)  top
  • ( ECONOMY, GROWTH, RANKING_MEMBER_WYDEN )(1, 3nd Order)  top
  • ( ECONOMY, GROWTH, PRESIDENT_REAGAN )(1, 3nd Order)  top
  • ( ECONOMY, UNEMPLOYMENT )(3, 2st Order)  top
  • ( ECONOMY, REFORM )(5, 2st Order)  top
  • ( ECONOMY, REFORM, CBO )(2, 3nd Order)  top
  • ( ECONOMY, REFORM, PRESIDENT_TRUMP )(3, 3nd Order)  top
  • ( ECONOMY, REFORM, WAGE )(1, 3nd Order)  top
  • ( ECONOMY, REFORM, TRADE )(2, 3nd Order)  top
  • ( ECONOMY, REFORM, UNEMPLOYMENT )(1, 3nd Order)  top
  • ( ECONOMY, REFORM, TENTHS )(1, 3nd Order)  top
  • ( ECONOMY, REFORM, TAXES )(1, 3nd Order)  top
  • ( ECONOMY, REFORM, SERVICE )(1, 3nd Order)  top
  • ( ECONOMY, REFORM, REVENUE )(1, 3nd Order)  top
  • ( ECONOMY, REFORM, REPUBLICAN )(1, 3nd Order)  top
  • ( ECONOMY, WAGE )(3, 2st Order)  top
  • ( ECONOMY, TAXES )(2, 2st Order)  top
  • ( ECONOMY, ECONOMIC )(3, 2st Order)  top
  • ( ECONOMY, CBO )(2, 2st Order)  top
  • ( ECONOMY, AMERICAN )(4, 2st Order)  top
  • ( ECONOMY, PRESIDENT_TRUMP )(3, 2st Order)  top
  • ( ECONOMY, PRESIDENT_OBAMA )(3, 2st Order)  top
  • ( ECONOMY, POLICIES )(3, 2st Order)  top
  • GROWTH(22, 1th Order)
  • ( GROWTH )(22, 1th Order)  top
  • ( GROWTH, ECONOMIC )(5, 2st Order)  top
  • ( GROWTH, ECONOMIC, BUDGET )(2, 3nd Order)  top
  • ( GROWTH, ECONOMIC, GDP )(2, 3nd Order)  top
  • ( GROWTH, ECONOMIC, TRUMP )(1, 3nd Order)  top
  • ( GROWTH, ECONOMIC, TAXPAYER_FIRST_ACT )(1, 3nd Order)  top
  • ( GROWTH, ECONOMIC, SECURITY )(1, 3nd Order)  top
  • ( GROWTH, ECONOMIC, PRODUCT )(1, 3nd Order)  top
  • ( GROWTH, ECONOMIC, PRIORITIZE )(1, 3nd Order)  top
  • ( GROWTH, ECONOMIC, PRESIDENT_OBAMA )(1, 3nd Order)  top
  • ( GROWTH, ECONOMIC, POSITIVE )(1, 3nd Order)  top
  • ( GROWTH, ECONOMIC, POLICIES )(1, 3nd Order)  top
  • ( GROWTH, WAGE )(4, 2st Order)  top
  • ( GROWTH, SECURITY )(4, 2st Order)  top
  • ( GROWTH, WORKERS )(1, 2st Order)  top
  • ( GROWTH, SPENDING )(1, 2st Order)  top
  • ( GROWTH, TAXES )(1, 2st Order)  top
  • ( GROWTH, PRESIDENT_OBAMA )(2, 2st Order)  top
  • ( GROWTH, OMB )(2, 2st Order)  top
  • ( GROWTH, FUNDING )(3, 2st Order)  top
  • REFORM(17, 1th Order)
  • ( REFORM )(17, 1th Order)  top
  • ( REFORM, CBO )(4, 2st Order)  top
  • ( REFORM, BUDGET )(1, 2st Order)  top
  • ( REFORM, TRADE )(3, 2st Order)  top
  • ( REFORM, CORPORATE )(2, 2st Order)  top
  • ( REFORM, REGULATORY )(3, 2st Order)  top
  • ( REFORM, PRESIDENT_TRUMP )(4, 2st Order)  top
  • ( REFORM, AMERICAN )(2, 2st Order)  top
  • ( REFORM, WAGE )(1, 2st Order)  top
  • ( REFORM, UNEMPLOYMENT )(2, 2st Order)  top
  • ( REFORM, SERVICE )(2, 2st Order)  top
  • ECONOMIC(15, 1th Order)
  • ( ECONOMIC )(15, 1th Order)  top
  • ( ECONOMIC, SECURITY )(2, 2st Order)  top
  • ( ECONOMIC, REFORM )(3, 2st Order)  top
  • ( ECONOMIC, OMB )(2, 2st Order)  top
  • ( ECONOMIC, GDP )(2, 2st Order)  top
  • ( ECONOMIC, CBO )(2, 2st Order)  top
  • ( ECONOMIC, TRUMP )(2, 2st Order)  top
  • ( ECONOMIC, RISKS )(1, 2st Order)  top
  • ( ECONOMIC, REGULATORY )(2, 2st Order)  top
  • ( ECONOMIC, MARKETS )(1, 2st Order)  top
  • CBO(11, 1th Order)
  • ( CBO )(11, 1th Order)  top
  • ( CBO, GROWTH )(2, 2st Order)  top
  • ( CBO, CORPORATE )(3, 2st Order)  top
  • ( CBO, REVENUE )(2, 2st Order)  top
  • ( CBO, OMB )(1, 2st Order)  top
  • ( CBO, BUDGET )(1, 2st Order)  top
  • ( CBO, TAXES )(1, 2st Order)  top
  • ( CBO, TRADE )(1, 2st Order)  top
  • ( CBO, SO-CALLED )(1, 2st Order)  top
  • ( CBO, RECALL )(1, 2st Order)  top
  • ( CBO, POLITICAL )(1, 2st Order)  top
  • SECURITY(8, 1th Order)
  • ( SECURITY )(8, 1th Order)  top
  • ( SECURITY, FUNDING )(2, 2st Order)  top
  • ( SECURITY, TERRORIST )(2, 2st Order)  top
  • ( SECURITY, TANF )(2, 2st Order)  top
  • ( SECURITY, STUDENT )(2, 2st Order)  top
  • ( SECURITY, SPENDING )(1, 2st Order)  top
  • ( SECURITY, SNAP )(2, 2st Order)  top
  • ( SECURITY, INDIVIDUALS )(2, 2st Order)  top
  • ( SECURITY, INCORPORATION_TRANSPARENCY )(1, 2st Order)  top
  • ( SECURITY, FARMERS )(2, 2st Order)  top
  • References

    • ( BUDGET )  top
    • ( BUDGET, SECURITY )  top
    • (Read more)   top... the reason why in the current budget, this administration seeks to cut 200 billion from SNAP and TANF for women and children, cut 170 billion from student loans, cut $90 billion from seniors on social security, cut $76 billion from persons with disability and cut 59 billion from farmers.
    • (Read more)   topThat on social security there's just some savings in the increase of growth for fraud and other issues.
      Senator Cortez Masto: (01:04:01)
      But you do not disagree, this budget actually requests a cut of 90 billion...
    • ( BUDGET, GROWTH )  top
    • (Read more)   top You had projected OMB a 3.2% growth in FY 19. The congressional budget office said 2.4, quite a difference. Well we now have the actual, it's 2.3 very close to OMB. Now we don't have the actuals for any of the other...
    • (Read more)   top At the end of the day, the projections are dependent upon GDP and economic numbers going forward and a big difference between the CBO projections and ours are economic growth projections going forward.
      Speaker 1: (53:52)
      You can understand how we are concerned about the tax bill adding greatly to the deficit because congressional budget office has been much more...
    • (Read more)   topThat on social security there's just some savings in the increase of growth for fraud and other issues.
      Senator Cortez Masto: (01:04:01)
      But you do not disagree, this budget actually requests a cut of 90 billion for seniors on social security, correct.
      Secretary...
    • (Read more)   top... tell you, when I go home to Nevada, there are still people struggling and I do want to talk to you about when you plan and you put together this tax bill that you've talked about and the economic growth, particularly when it comes to the budget, I keep hearing you saying that you're talking about the budget that shows gross domestic product growth will climb to 3.1% and that's your basis
    • ( BUDGET, ECONOMIC )  top
    • (Read more)   top ... up on one point of my colleagues been talking about because we have the actual growth numbers for FY 19 and you say that the 2017 tax bill pays for itself based upon and one of the issues you said, the economic growth, which we all recognize. You had projected OMB a 3.2% growth in FY 19. The congressional budget office said 2.4, quite a difference
    • (Read more)   top At the end of the day, the projections are dependent upon GDP and economic numbers going forward and a big difference between the CBO projections and ours are economic growth projections going forward.
      Speaker 1: (53:52)
      You can understand how we are concerned about...
    • (Read more)   top... because I can tell you, when I go home to Nevada, there are still people struggling and I do want to talk to you about when you plan and you put together this tax bill that you've talked about and the economic growth, particularly when it comes to the budget, I keep hearing you saying that you're talking about the budget that shows gross domestic product growth will climb to 3.1% and that's your...
    • ( BUDGET, TREASURY_DEPARTMENT )  top
    • (Read more)   top. I'm pleased to be here with you today to discuss the President's budget and the Treasury Department's top priorities. President Trump's economic freedom agenda is working.
    • (Read more)   top. And thank you Secretary Mnuchin for testifying today about the Treasury Department's budget proposal. Secretary, when you testified to this committee last year about the Treasury's budget, I spoke about the importance of robustly funding Treasury Department programs that combat terrorist...
    • ( BUDGET, FUNDING )  top
    • (Read more)   top Secretary, when you testified to this committee last year about the Treasury's budget, I spoke about the importance of robustly funding Treasury Department programs that combat terrorist funding streams and other forms of illicit financing.
      Senator Hassan: (57:53)
      I am pleased to see that the 2021 Treasury budget proposes increased...
    • (Read more)   top
      Well, first of all, thank you and thank the committee for the generous support on us funding increases in these areas over the last several years.
    • ( BUDGET, FAMILIES )  top
    • (Read more)   topDrug pricing and multi-employer pension crisis are two such issues that must be dealt with. This budget proposal comes at a time when the economy is very strong, especially for working families. Better trade deals, less regulation, lower taxes from tax reform have translated into wage increases, especially for lower wage earners and historically tight labor market.
      Mr. Grassley: (00:49)
      Over...
    • (Read more)   top. The Trump administration's budget is built on policies that pillage working families to pay for new windfalls for multinational corporations and the wealthy.
    • ( BUDGET, WORKERS )  top
    • (Read more)   top The President's talking about Social Security, which keeps American workers from retiring into deprivation and desperation. The Trump budget cuts in those programs amount to more than $1.5 trillion
    • (Read more)   topThis budget, again, cuts the full time equivalence at IRS and I worry that you don't have the workforce you need and be able to retain the experience workers at IRS and professionals in order to carry out that responsibility.
    • ( BUDGET, WAGE )  top
    • (Read more)   topThis budget proposal comes at a time when the economy is very strong, especially for working families. Better trade deals, less regulation, lower taxes from tax reform have translated into wage increases, especially for lower wage earners and historically tight labor market.
      Mr. Grassley: (00:49)
      Over six and seven tenths million jobs have been created since President Trump was...
    • ( BUDGET, TRADE )  top
    • (Read more)   topThis budget proposal comes at a time when the economy is very strong, especially for working families. Better trade deals, less regulation, lower taxes from tax reform have translated into wage increases, especially for lower wage earners and historically tight labor market.
      Mr. Grassley: (00:49)
      Over...
    • (Read more)   topThis committee has a solid foundation, a bipartisan accomplishment in recent months including the Secure Act, the Taxpayer's First Act and the US MCA trade deal and after extensive negotiations, we came together just before Christmas to extend a number of temporary bi-partisan tax provisions
    • (Read more)   top
      Before I introduce the Secretary, it's my intention we have a two o'clock vote that you and I would trade places to go vote.
    • ( BUDGET, THE_TRUMP )  top
    • (Read more)   top. The Trump administration's budget is built on policies that pillage working families to pay for new windfalls for multinational corporations and the wealthy
    • (Read more)   top The President's talking about Social Security, which keeps American workers from retiring into deprivation and desperation. The Trump budget cuts in those programs amount to more than $1.5 trillion. Probably goes over just fine with the ballroom crowd at Mar-a-Lago, but I'll tell you, it is a terrifying prospect for the hundreds...
    • ( BUDGET, OMB )  top
    • (Read more)   top ... we have the actual growth numbers for FY 19 and you say that the 2017 tax bill pays for itself based upon and one of the issues you said, the economic growth, which we all recognize. You had projected OMB a 3.2% growth in FY 19. The congressional budget office said 2.4, quite a difference. Well we now have the actual, it's 2.3 very close to OMB. Now we don't have the actuals for...
    • (Read more)   top
      You can understand how we are concerned about the tax bill adding greatly to the deficit because congressional budget office has been much more accurate than OMB. I just point that out and that's why we are concerned by these, we think, unrealistic growth numbers and as you said, you'll be able to come back and show us
    • ( BUDGET, TRANSPORTATION )  top
    • (Read more)   top When I was governor, I was governor for eight years, we had tax cuts seven out of eight years, balanced our budget every year, I proposed transportation infrastructure improvements in my little state, I'd always propose ways to pay for it and we really need to support of the administration as we go through this year, figuring out what to do on roads,...
    • ( JOBS )  top
    • ( JOBS, ECONOMY )  top
    • ( JOBS, ECONOMY, UNEMPLOYMENT )  top
    • (Read more)   top. The economy was slower, [inaudible 01:25:06] to jobs when you start with a higher unemployment rate, it's easier to create absolute more jobs.
      Senator Casey: (01:25:12)
      Well you guys didn't walk into an unemployment rate of 10% either, which President Obama did.
      Secretary...
    • (Read more)   top
      Interestingly about 70% of those jobs, 4.6 million of the 6.7 million jobs have been created since we passed tax reform, and national unemployment rate of 3.6% near a 50 year low.
    • (Read more)   top Probably most importantly of all is, just, the annual hourly wage growth that we've seen has been north of 3% again for 18 months now in a row, and unemployment to 4% or under for 23 months in a row.
      Mr. Thune: (02:09:03)
      These aren't blips on the radar, they mark sustained progress and a fundamental shift in the trajectory of the economy,...
    • ( JOBS, ECONOMY, GROWTH )  top
    • (Read more)   top
      We look back at the Reagan economy and the Clinton economy and to see the growth that's happening, I'm watching some pretty remarkable growth happening in this economy since the tax cut and jobs act and what you have overseen from the Treasury right now, if I'm looking...
    • (Read more)   top ... that was predictable, we saw this when President Kennedy, through his leadership cut taxes, we saw it under President Reagan through his leadership cutting taxes and growing the economy and seeing wage growth and more jobs created. Which tax policies do you see as being some of the most important in keeping our economy growing.
      Secretary Mnuchin: (01:32:24)
      I think there's no question the change...
    • (Read more)   top Probably most importantly of all is, just, the annual hourly wage growth that we've seen has been north of 3% again for 18 months now in a row, and unemployment to 4% or under for 23 months in a row.
      Mr. Thune: (02:09:03)
      These aren't blips on the radar,...
    • ( JOBS, ECONOMY, WAGE )  top
    • (Read more)   top ... outcome that was predictable, we saw this when President Kennedy, through his leadership cut taxes, we saw it under President Reagan through his leadership cutting taxes and growing the economy and seeing wage growth and more jobs created. Which tax policies do you see as being some of the most important in keeping our economy growing.
      Secretary Mnuchin: (01:32:24)
      I think there's no question...
    • (Read more)   top Probably most importantly of all is, just, the annual hourly wage growth that we've seen has been north of 3% again for 18 months now in a row, and unemployment to 4% or under for 23 months in a row.
      Mr. Thune: (02:09:03)
      These aren't blips on...
    • ( JOBS, ECONOMY, TAXES )  top
    • (Read more)   top ... my question for you is, as you look at the tax policies that we move forward with, as we've seen now an outcome that was predictable, we saw this when President Kennedy, through his leadership cut taxes, we saw it under President Reagan through his leadership cutting taxes and growing the economy and seeing wage growth and more jobs created
    • ( JOBS, ECONOMY, POLICIES )  top
    • (Read more)   top
      Mr secretary, my question for you is, as you look at the tax policies that we move forward with, as we've seen now an outcome that was predictable, we saw this when President Kennedy, through his leadership cut taxes, we saw it under President Reagan through his leadership...
    • ( JOBS, ECONOMY, MANUFACTURING )  top
    • (Read more)   top... happening in this economy since the tax cut and jobs act and what you have overseen from the Treasury right now, if I'm looking at this correctly, during the previous administration, there were 3,600 manufacturing job losses during this administration we're gaining 12,300 gains in manufacturing alone during that time period
    • ( JOBS, ECONOMY, THE_TRUMP )  top
    • (Read more)   top. The Trump economy created less jobs and delivered under a third of the earnings to families than the final years of the Obama Presidency, all the while nearly doubling the deficit to $1 trillion
    • ( JOBS, ECONOMY, REFORM )  top
    • (Read more)   top
      Interestingly about 70% of those jobs, 4.6 million of the 6.7 million jobs have been created since we passed tax reform, and national unemployment rate of 3.6% near a 50 year low.
    • ( JOBS, ECONOMY, PRESIDENT_TRUMP )  top
    • (Read more)   top I'm struck by the job creation number, Mr. Secretary, over 6.7 million jobs have been created since President Trump was elected.
      Senator Lankford: (01:31:03)
      Interestingly about 70% of those jobs, 4.6 million of the 6.7 million jobs have been created since we passed tax reform, and national unemployment...
    • ( JOBS, ECONOMY, PRESIDENT_REAGAN )  top
    • (Read more)   top ... as you look at the tax policies that we move forward with, as we've seen now an outcome that was predictable, we saw this when President Kennedy, through his leadership cut taxes, we saw it under President Reagan through his leadership cutting taxes and growing the economy and seeing wage growth and more jobs created
    • ( JOBS, ECONOMY, PRESIDENT_OBAMA )  top
    • (Read more)   top
      Well you guys didn't walk into an unemployment rate of 10% either, which President Obama did.
      Secretary Mnuchin: (01:25:17)
      I'm looking at four and a half versus a three and a half, obviously as you get down to low unemployment rates, it's harder and harder to create jobs...
    • ( JOBS, UNEMPLOYMENT )  top
    • (Read more)   topSee ( JOBS , ECONOMY , UNEMPLOYMENT )
    • ( JOBS, GROWTH )  top
    • (Read more)   topSee ( JOBS , ECONOMY , GROWTH )
    • (Read more)   top
      So I don't think there's anything wrong with the president trying to commend the work of his administration about job growth, but I think we ought to be clear that if he's going to constantly compare himself to President Obama, he ought at least acknowledged that the last 36 months under President Obama was stronger than...
    • (Read more)   top Last week's jobs number was great. Another 225,000 jobs created. Probably most importantly of all is, just, the annual hourly wage growth that we've seen has been north of 3% again for 18 months now in a row, and unemployment to 4% or under for 23 months in a row.
      Mr. Thune: (02:09:03)
      These aren't blips on the radar,...
    • ( JOBS, PRESIDENT_OBAMA )  top
    • (Read more)   topPresident Trump claim he will be quote the greatest jobs president that God ever created close quotes and has repeatedly criticized President Obama's jobs record.
    • (Read more)   top The last 36 months, so the same time period, last 36 months of President Obama's administration, that number is 224,000 jobs per month in those 36 months. So 42,000 more jobs under Obama adding up to about more than a million and a half more jobs.
      Senator Casey: (01:24:38)
      So...
    • (Read more)   topSee ( JOBS , ECONOMY , PRESIDENT_OBAMA )
    • ( JOBS, WAGE )  top
    • (Read more)   topBetter trade deals, less regulation, lower taxes from tax reform have translated into wage increases, especially for lower wage earners and historically tight labor market.
      Mr. Grassley: (00:49)
      Over six and seven tenths million jobs have been created since President Trump was...
    • (Read more)   topSee ( JOBS , ECONOMY , WAGE )
    • (Read more)   top Last week's jobs number was great. Another 225,000 jobs created. Probably most importantly of all is, just, the annual hourly wage growth that we've seen has been north of 3% again for 18 months now in a row, and unemployment to 4% or under for 23 months in a row.
      Mr. Thune: (02:09:03)
      These aren't blips on...
    • ( JOBS, REFORM )  top
    • (Read more)   topBetter trade deals, less regulation, lower taxes from tax reform have translated into wage increases, especially for lower wage earners and historically tight labor market.
      Mr. Grassley: (00:49)
      Over six and seven tenths million jobs have been created...
    • (Read more)   top. Prior to tax reform, CBO said, "The economy would create an average of 107,000 jobs per month." In 2018 we actually got an average of 193,000 jobs
    • (Read more)   topSee ( JOBS , ECONOMY , REFORM )
    • ( JOBS, PRESIDENT_TRUMP )  top
    • (Read more)   top
      Over six and seven tenths million jobs have been created since President Trump was elected with nearly 70% of the job gains occurring since we passed the tax cut and jobs act
    • (Read more)   top
      The economy was already growing for seven years before President Trump took office. Let's talk about jobs. President Trump claim he will be quote the greatest jobs president that God ever created close quotes and has repeatedly criticized President Obama's jobs...
    • (Read more)   topSee ( JOBS , ECONOMY , PRESIDENT_TRUMP )
    • ( JOBS, MANUFACTURING )  top
    • (Read more)   topSee ( JOBS , ECONOMY , MANUFACTURING )
    • (Read more)   top... start by just talking about the view from Michigan because certainly the numbers you're talking about are not what we see and just for clarity, under the previous administration, we added about 88,000 manufacturing jobs. Up until the last three quarters, we added about 12,000 under the current administration, but for the last three quarters, we've seen two quarters where we actually have lost manufacturing...
    • ( JOBS, TAXES )  top
    • (Read more)   topBetter trade deals, less regulation, lower taxes from tax reform have translated into wage increases, especially for lower wage earners and historically tight labor market.
      Mr. Grassley: (00:49)
      Over six and seven tenths million jobs...
    • (Read more)   topSee ( JOBS , ECONOMY , TAXES )
    • ( JOBS, QUARTERS )  top
    • (Read more)   top... Michigan because certainly the numbers you're talking about are not what we see and just for clarity, under the previous administration, we added about 88,000 manufacturing jobs. Up until the last three quarters, we added about 12,000 under the current administration, but for the last three quarters, we've seen two quarters where we actually have lost manufacturing jobs and the last quarter was flat
    • ( JOBS, WORKERS )  top
    • (Read more)   topBefore President Trump came into office. Experts were predicting that we would grow by 14,000 jobs per month. Wages for non-supervisory workers rose by 3.2% in 2019 compared to 3% for all private sector employees, which means wages rose faster for workers than they did for their bosses.
      Secretary Mnuchin: (14:24)
      The improved employment...
    • ( JOBS, POLICIES )  top
    • (Read more)   topSee ( JOBS , ECONOMY , POLICIES )
    • ( ECONOMY )  top
    • ( ECONOMY, GROWTH )  top
    • ( ECONOMY, GROWTH, TAXES )  top
    • (Read more)   topSee ( JOBS , ECONOMY , TAXES )
    • ( ECONOMY, GROWTH, WAGE )  top
    • (Read more)   topSee ( JOBS , ECONOMY , WAGE )
    • ( ECONOMY, GROWTH, SERVICES )  top
    • (Read more)   topWhile my home state of South Dakota was careful in the way it crafted its sales tax law, the potential for multiple and discriminatory taxes levied on these types of goods and services could threaten the growth and innovation of this important sector of the economy. something that I have worked with the Ranking Member Wyden on in the past.
      Mr. Thune: (02:11:45)
      We've...
    • ( ECONOMY, GROWTH, POLICIES )  top
    • (Read more)   topSee ( JOBS , ECONOMY , POLICIES )
    • ( ECONOMY, GROWTH, MANUFACTURING )  top
    • (Read more)   topSee ( JOBS , ECONOMY , MANUFACTURING )
    • ( ECONOMY, GROWTH, ECONOMIC )  top
    • (Read more)   top Now, President Trump claims to have inherited a quote disaster of an economy from President Obama and he takes credits for what he calls and I quote, "An economic turnaround of historic proportions." Mr. Secretary, how long has the US economy been posting positive GDP growth.
      Secretary Mnuchin: (47:10)
      It's the longest running economic scenario...
    • ( ECONOMY, GROWTH, WORKERS )  top
    • (Read more)   top. The new Gig Act addresses the classification of workers, independent contractors versus employees, and creates a worker safe harbor based on a set of objective tests
    • ( ECONOMY, GROWTH, UNEMPLOYMENT )  top
    • (Read more)   topSee ( JOBS , ECONOMY , UNEMPLOYMENT )
    • ( ECONOMY, GROWTH, RANKING_MEMBER_WYDEN )  top
    • (Read more)   top... for multiple and discriminatory taxes levied on these types of goods and services could threaten the growth and innovation of this important sector of the economy. something that I have worked with the Ranking Member Wyden on in the past.
      Mr. Thune: (02:11:45)
      We've introduced the Digital Goods and Services Tax Fairness Act, a bill which would provide some rules of the road, if you will, for taxing digital...
    • ( ECONOMY, GROWTH, PRESIDENT_REAGAN )  top
    • (Read more)   topSee ( JOBS , ECONOMY , PRESIDENT_REAGAN )
    • ( ECONOMY, UNEMPLOYMENT )  top
    • (Read more)   topSee ( JOBS , ECONOMY , UNEMPLOYMENT )
    • ( ECONOMY, REFORM )  top
    • ( ECONOMY, REFORM, CBO )  top
    • (Read more)   top However, as I mentioned in my floor statement yesterday, joint tax committee and CBO have confirmed that one cannot infer from CBO's projections that tax reform regulations are inconsistent with the statute
    • (Read more)   top In fact, CBO clarified that other factors drove the change in projections, namely the economy abroad, trade developments and the reduction in the Bureau of Economics analysis of corporate tax revenue estimates between...
    • ( ECONOMY, REFORM, PRESIDENT_TRUMP )  top
    • (Read more)   topSee ( JOBS , PRESIDENT_TRUMP )
    • (Read more)   topWatching what's happened under President Trump with Republican leadership's commitment to tax reform, cutting [inaudible 01:30:44] some regulations
    • (Read more)   topSee ( JOBS , ECONOMY , PRESIDENT_TRUMP )
    • ( ECONOMY, REFORM, WAGE )  top
    • (Read more)   topSee ( BUDGET , WAGE )
    • ( ECONOMY, REFORM, TRADE )  top
    • (Read more)   topSee ( BUDGET , TRADE )
    • (Read more)   top In fact, CBO clarified that other factors drove the change in projections, namely the economy abroad, trade developments and the reduction in the Bureau of Economics analysis of corporate tax revenue estimates between 2016 and 2018, which then of course, in turn, informs CBO's baseline
    • ( ECONOMY, REFORM, UNEMPLOYMENT )  top
    • (Read more)   topSee ( JOBS , ECONOMY , UNEMPLOYMENT )
    • ( ECONOMY, REFORM, TENTHS )  top
    • (Read more)   top
      Over six and seven tenths million jobs have been created since President Trump was elected with nearly 70% of the job gains occurring since we passed the tax cut and jobs act
    • ( ECONOMY, REFORM, TAXES )  top
    • (Read more)   topThis budget proposal comes at a time when the economy is very strong, especially for working families. Better trade deals, less regulation, lower taxes from tax reform have translated into wage increases, especially for lower wage earners and historically tight labor market.
      Mr. Grassley: (00:49)
      Over six and seven tenths million jobs...
    • ( ECONOMY, REFORM, SERVICE )  top
    • (Read more)   top. Secretary, for your service, for being here today, as well. Since tax reform, our economy has absolutely been roaring. It's really been encouraging
    • ( ECONOMY, REFORM, REVENUE )  top
    • (Read more)   top In fact, CBO clarified that other factors drove the change in projections, namely the economy abroad, trade developments and the reduction in the Bureau of Economics analysis of corporate tax revenue estimates between 2016 and 2018, which then of course, in turn, informs CBO's baseline.
    • ( ECONOMY, REFORM, REPUBLICAN )  top
    • (Read more)   topWatching what's happened under President Trump with Republican leadership's commitment to tax reform, cutting [inaudible 01:30:44] some regulations
    • ( ECONOMY, WAGE )  top
    • (Read more)   topSee ( BUDGET , WAGE )
    • (Read more)   topSee ( JOBS , ECONOMY , WAGE )
    • ( ECONOMY, TAXES )  top
    • (Read more)   topSee ( ECONOMY , REFORM , TAXES )
    • (Read more)   topSee ( JOBS , ECONOMY , TAXES )
    • ( ECONOMY, ECONOMIC )  top
    • (Read more)   topSee ( ECONOMY , GROWTH , ECONOMIC )
    • (Read more)   top
      It has a very big economic impact. It's hurting companies and small businesses that sell legitimate items.
    • (Read more)   topWe've been able to sustain, along with regulatory reform and implementation of USMCA forthcoming, the longest period of economic expansion in American history.
    • ( ECONOMY, CBO )  top
    • (Read more)   topSee ( ECONOMY , REFORM , CBO )
    • ( ECONOMY, AMERICAN )  top
    • (Read more)   top
      Senator Wyden and I since a year ago, have remained United and bi-partisan in our message that unilateral measures that discriminate against American companies cannot be tolerated and we continue to support Treasury Departments in these negotiations
    • (Read more)   top I'd like to go over a few points today and correct the records so the American people have the truth before them. Now, President Trump claims to have inherited a quote disaster of an economy from President Obama and he takes credits for what he calls and I quote, "An economic...
    • (Read more)   topThis economy is booming, and it's benefiting Montanans, it's benefiting the American people. I'm struck by the job creation number, Mr. Secretary, over 6.7 million jobs have been created since President Trump was elected.
      Senator Lankford: (01:31:03)
      Interestingly...
    • (Read more)   topWe've been able to sustain, along with regulatory reform and implementation of USMCA forthcoming, the longest period of economic expansion in American history.
    • ( ECONOMY, PRESIDENT_TRUMP )  top
    • (Read more)   topSee ( JOBS , PRESIDENT_TRUMP )
    • (Read more)   top. Watching what's happened under President Trump with Republican leadership's commitment to tax reform, cutting [inaudible 01:30:44] some regulations
    • (Read more)   topSee ( JOBS , ECONOMY , PRESIDENT_TRUMP )
    • ( ECONOMY, PRESIDENT_OBAMA )  top
    • (Read more)   top I'd like to go over a few points today and correct the records so the American people have the truth before them. Now, President Trump claims to have inherited a quote disaster of an economy from President Obama and he takes credits for what he calls and I quote, "An economic turnaround of historic proportions." Mr. Secretary, how long has the US economy been posting positive GDP growth.
      Secretary...
    • (Read more)   top. The economy gained 1.5 million more jobs during the final three years of President Obama's presidency than the first three years of the Trump's Presidency.
    • (Read more)   topSee ( JOBS , ECONOMY , PRESIDENT_OBAMA )
    • ( ECONOMY, POLICIES )  top
    • (Read more)   top
      And then finally, let me ask you, does the department commit to that its actions, policies and investigations including sanctions will remain free from political pressure by the president because I look at the recent nominee, [inaudible 00:51:02] who was supposed to be before the banking committee...
    • (Read more)   topSee ( JOBS , ECONOMY , POLICIES )
    • (Read more)   top. We believe the policies are working.
    • ( GROWTH )  top
    • ( GROWTH, ECONOMIC )  top
    • ( GROWTH, ECONOMIC, BUDGET )  top
    • (Read more)   top
      You can understand how we are concerned about the tax bill adding greatly to the deficit because congressional budget office has been much more accurate than OMB. I just point that out and that's why we are concerned by these, we think, unrealistic growth numbers and as you said, you'll be able to come back...
    • (Read more)   top... are still people struggling and I do want to talk to you about when you plan and you put together this tax bill that you've talked about and the economic growth, particularly when it comes to the budget, I keep hearing you saying that you're talking about the budget that shows gross domestic product growth will climb to 3.1% and that's your basis
    • ( GROWTH, ECONOMIC, GDP )  top
    • (Read more)   top ... from President Obama and he takes credits for what he calls and I quote, "An economic turnaround of historic proportions." Mr. Secretary, how long has the US economy been posting positive GDP growth.
      Secretary Mnuchin: (47:10)
      It's the longest running economic scenario we've been in.
      Senator Menendez: (47:14)
      Absolutely true
    • (Read more)   top At the end of the day, the projections are dependent upon GDP and economic numbers going forward and a big difference between the CBO projections and ours are economic growth projections going forward.
      Speaker 1: (53:52)
      You can understand how we are...
    • ( GROWTH, ECONOMIC, TRUMP )  top
    • (Read more)   top
      In addition, president Trump's economic policies will result in economic growth, will reduce our national debt and deficits over time
    • ( GROWTH, ECONOMIC, TAXPAYER_FIRST_ACT )  top
    • (Read more)   topOf particular for this committee we're requesting $12 billion for the IRS. This includes funding to implement the Taxpayer First Act and the third year of integrated business system modernization.
    • ( GROWTH, ECONOMIC, SECURITY )  top
    • (Read more)   top
      The President's 2021 budget for the treasury department makes clear that we continue to prioritize economic growth as well as national security. Of particular for this committee we're requesting $12 billion for the IRS. This includes funding to implement the Taxpayer First Act and the third year of integrated business system modernization
    • ( GROWTH, ECONOMIC, PRODUCT )  top
    • (Read more)   top... this tax bill that you've talked about and the economic growth, particularly when it comes to the budget, I keep hearing you saying that you're talking about the budget that shows gross domestic product growth will climb to 3.1% and that's your basis.
    • ( GROWTH, ECONOMIC, PRIORITIZE )  top
    • (Read more)   top
      The President's 2021 budget for the treasury department makes clear that we continue to prioritize economic growth as well as national security. Of particular for this committee we're requesting $12 billion for the IRS. This includes funding to implement the Taxpayer First Act and the third...
    • ( GROWTH, ECONOMIC, PRESIDENT_OBAMA )  top
    • (Read more)   top Now, President Trump claims to have inherited a quote disaster of an economy from President Obama and he takes credits for what he calls and I quote, "An economic turnaround of historic proportions." Mr. Secretary, how long has the US economy been posting positive GDP growth.
      Secretary...
    • ( GROWTH, ECONOMIC, POSITIVE )  top
    • (Read more)   top ... an economy from President Obama and he takes credits for what he calls and I quote, "An economic turnaround of historic proportions." Mr. Secretary, how long has the US economy been posting positive GDP growth.
      Secretary Mnuchin: (47:10)
      It's the longest running economic scenario we've been in.
      Senator Menendez: (47:14)
      Absolutely true
    • ( GROWTH, ECONOMIC, POLICIES )  top
    • (Read more)   top
      In addition, president Trump's economic policies will result in economic growth, will reduce our national debt and deficits over time.
    • ( GROWTH, WAGE )  top
    • (Read more)   top. The thing that I like best is the wage growth. We've now seen for 18 straight months, wage growth of over 3% and as we know from the Bureau of Labor Statistics Information, this is primarily helping folks who are non-supervisory, which...
    • (Read more)   topAnd that's just awesome news. It's the longest period we've been able to see that kind of wage growth since before the Great Recession.
      Chairman Grassley : (01:10:03)
      We've been able to see a wage growth since before the great recession, so it's working
    • (Read more)   top ... outcome that was predictable, we saw this when President Kennedy, through his leadership cut taxes, we saw it under President Reagan through his leadership cutting taxes and growing the economy and seeing wage growth and more jobs created.
    • (Read more)   topSee ( JOBS , WAGE )
    • ( GROWTH, SECURITY )  top
    • (Read more)   topSee ( GROWTH , ECONOMIC , SECURITY )
    • (Read more)   topSee ( BUDGET , SECURITY )
    • (Read more)   topI was intricately involved in the bipartisan agreement to get that done and as it relates to social security, the president's been clear, he doesn't want to cut social security. That on social security there's just some savings in the increase of growth for fraud and other issues.
      Senator...
    • (Read more)   top
      It ranges between 2.8 and 3.1, but let me just comment on social security.
    • ( GROWTH, WORKERS )  top
    • (Read more)   topSee ( ECONOMY , GROWTH , WORKERS )
    • ( GROWTH, SPENDING )  top
    • (Read more)   top Unfortunately, in order to secure critical funding to rebuild the military, the Democratic members of Congress insisted on increasing other government spending, which resulted in spending growth of 8% from fiscal year 2018 to 2019. My question to you is, in order to address the Democratic members of Congress, increase in government spending that you cite to,...
    • ( GROWTH, TAXES )  top
    • (Read more)   topSee ( JOBS , ECONOMY , TAXES )
    • ( GROWTH, PRESIDENT_OBAMA )  top
    • (Read more)   topSee ( GROWTH , ECONOMIC , PRESIDENT_OBAMA )
    • (Read more)   top ... there's anything wrong with the president trying to commend the work of his administration about job growth, but I think we ought to be clear that if he's going to constantly compare himself to President Obama, he ought at least acknowledged that the last 36 months under President Obama was stronger than his first 36 months
    • ( GROWTH, OMB )  top
    • (Read more)   top You had projected OMB a 3.2% growth in FY 19. The congressional budget office said 2.4, quite a difference. Well we now have the actual, it's 2.3 very close to OMB. Now we don't have the actuals for...
    • (Read more)   topSee ( BUDGET , OMB )
    • ( GROWTH, FUNDING )  top
    • (Read more)   top ... treasury department makes clear that we continue to prioritize economic growth as well as national security. Of particular for this committee we're requesting $12 billion for the IRS. This includes funding to implement the Taxpayer First Act and the third year of integrated business system modernization
    • (Read more)   top As part of this effort, it is vital that the Bureau of Alcohol and Tobacco Tax and Trade, which is, as you know, within the treasury, receive increased funding to clear the backlog of approval requests for new beverage formulas and labels. I continue to hear from New Hampshire brewers that delays in approvals are slowing their business growth despite the additional...
    • (Read more)   topUnfortunately, in order to secure critical funding to rebuild the military, the Democratic members of Congress insisted on increasing other government spending, which resulted in spending growth of 8% from fiscal year 2018 to 2019
    • ( REFORM )  top
    • ( REFORM, CBO )  top
    • (Read more)   top Critics continuously use preliminary and incomplete data to distort the efforts of tax reform to support a political narrative. Critics focus on revised CBO projections of corporate tax receipts, is just the latest installment as I discussed in my statement yesterday to my fellow senators.
      Mr. Grassley: (03:18)
      Similar, we all recall the misinformation...
    • (Read more)   topSee ( ECONOMY , REFORM , CBO )
    • (Read more)   topIt's simply strange credibility to blame tax reform for a change in the baseline from years before tax reform was even enacted. Secretary, is it your understanding that CBO's downward adjustment is a result of a number of factors and that it is in fact, too early to determine the precise impact of tax reform on the tax receipts and also does the administration's budget...
    • ( REFORM, BUDGET )  top
    • (Read more)   topThis budget proposal comes at a time when the economy is very strong, especially for working families. Better trade deals, less regulation, lower taxes from tax reform have translated into wage increases, especially...
    • ( REFORM, TRADE )  top
    • (Read more)   topSee ( BUDGET , TRADE )
    • (Read more)   top ... with you today to discuss the President's budget and the Treasury Department's top priorities. President Trump's economic freedom agenda is working. Tax cuts, regulatory reform and better trade deals are improving the lives of hardworking Americans. Unemployment remains historically low at 3.6% and it is at or near all time lows for African Americans, Hispanic Americans and Veterans
    • (Read more)   topSee ( ECONOMY , REFORM , TRADE )
    • ( REFORM, CORPORATE )  top
    • (Read more)   top Critics continuously use preliminary and incomplete data to distort the efforts of tax reform to support a political narrative. Critics focus on revised CBO projections of corporate tax receipts, is just the latest installment as I discussed in my statement yesterday to my fellow senators.
      Mr. Grassley: (03:18)
      Similar, we all recall the misinformation campaign in...
    • (Read more)   top In fact, CBO clarified that other factors drove the change in projections, namely the economy abroad, trade developments and the reduction in the Bureau of Economics analysis of corporate tax revenue estimates between 2016 and 2018, which then of course, in turn, informs CBO's baseline
    • ( REFORM, REGULATORY )  top
    • (Read more)   top I'm pleased to be here with you today to discuss the President's budget and the Treasury Department's top priorities. President Trump's economic freedom agenda is working. Tax cuts, regulatory reform and better trade deals are improving the lives of hardworking Americans. Unemployment remains historically low at 3.6% and it is at or near all time lows for African Americans, Hispanic Americans...
    • (Read more)   top. You pointed out the tax reform is working and it certainly is, so is regulatory relief, I think and some better trade agreements.
    • (Read more)   topSince tax reform, our economy has absolutely been roaring. It's really been encouraging. We've been able to sustain, along with regulatory reform and implementation of USMCA forthcoming, the longest period of economic expansion in American history
    • ( REFORM, PRESIDENT_TRUMP )  top
    • (Read more)   topSee ( JOBS , PRESIDENT_TRUMP )
    • (Read more)   top I'm pleased to be here with you today to discuss the President's budget and the Treasury Department's top priorities. President Trump's economic freedom agenda is working. Tax cuts, regulatory reform and better trade deals are improving the lives of hardworking Americans
    • (Read more)   topSee ( ECONOMY , REFORM , PRESIDENT_TRUMP )
    • (Read more)   topSee ( JOBS , ECONOMY , PRESIDENT_TRUMP )
    • ( REFORM, AMERICAN )  top
    • (Read more)   top... President Trump with Republican leadership's commitment to tax reform, cutting [inaudible 01:30:44] some regulations. This economy is booming, and it's benefiting Montanans, it's benefiting the American people.
    • (Read more)   topSee ( ECONOMY , AMERICAN )
    • ( REFORM, WAGE )  top
    • (Read more)   topSee ( BUDGET , WAGE )
    • ( REFORM, UNEMPLOYMENT )  top
    • (Read more)   topTax cuts, regulatory reform and better trade deals are improving the lives of hardworking Americans. Unemployment remains historically low at 3.6% and it is at or near all time lows for African Americans, Hispanic Americans and Veterans
    • (Read more)   top
      Interestingly about 70% of those jobs, 4.6 million of the 6.7 million jobs have been created since we passed tax reform, and national unemployment rate of 3.6% near a 50 year low. There's a reason I left the private sector to come into public service, was to see outcomes, see results, results like this
    • ( REFORM, SERVICE )  top
    • (Read more)   top ... the 6.7 million jobs have been created since we passed tax reform, and national unemployment rate of 3.6% near a 50 year low. There's a reason I left the private sector to come into public service, was to see outcomes, see results, results like this.
    • (Read more)   topSee ( ECONOMY , REFORM , SERVICE )
    • ( ECONOMIC )  top
    • ( ECONOMIC, SECURITY )  top
    • (Read more)   topSee ( GROWTH , ECONOMIC , SECURITY )
    • (Read more)   top
      Your people in your administration needs to make a bigger effort politically to emphasize the national security and economic security prerogatives behind your support of the Incorporation Transparency legislation
    • ( ECONOMIC, REFORM )  top
    • (Read more)   top ... pleased to be here with you today to discuss the President's budget and the Treasury Department's top priorities. President Trump's economic freedom agenda is working. Tax cuts, regulatory reform and better trade deals are improving the lives of hardworking Americans.
    • (Read more)   topWe've been able to sustain, along with regulatory reform and implementation of USMCA forthcoming, the longest period of economic expansion in American history
    • (Read more)   top
      Since tax reform, real disposable personal income per average household in the state of Indiana has risen around $6,000
    • ( ECONOMIC, OMB )  top
    • (Read more)   top ... we have the actual growth numbers for FY 19 and you say that the 2017 tax bill pays for itself based upon and one of the issues you said, the economic growth, which we all recognize. You had projected OMB a 3.2% growth in FY 19. The congressional budget office said 2.4, quite a difference.
    • (Read more)   topSee ( BUDGET , OMB )
    • ( ECONOMIC, GDP )  top
    • (Read more)   topSee ( GROWTH , ECONOMIC , GDP )
    • (Read more)   top There were a significant number of issues that dragged down GDP and in the range of the 50 to 70 basis points. At the end of the day, the projections are dependent upon GDP and economic numbers going forward and a big difference between the CBO projections and ours...
    • ( ECONOMIC, CBO )  top
    • (Read more)   top Well we now have the actual, it's 2.3 very close to OMB. Now we don't have the actuals for any of the other years, but the differences between CBO and OMB is pretty dramatic on the economic numbers. What does CBO know that you don't know and why were they able to project the growth for the first year we have 2019 when you are projecting over...
    • (Read more)   top At the end of the day, the projections are dependent upon GDP and economic numbers going forward and a big difference between the CBO projections and ours are economic growth projections going forward.
      Speaker 1: (53:52)
      You can understand how we are concerned about the tax bill adding greatly to the deficit because congressional...
    • ( ECONOMIC, TRUMP )  top
    • (Read more)   topPrior to current position, Secretary Mnuchin was finance chairman for the Trump for President organization and served as a senior economic advisor. He has very extensive experience in global financial markets, U S government securities, mortgages, money markets and municipal bonds
    • (Read more)   topSee ( GROWTH , ECONOMIC , TRUMP )
    • ( ECONOMIC, RISKS )  top
    • (Read more)   top Last, the Stanford Graduate School of Business report of January noted again that the financial risks from climate change are systemic, singular in nature, and that global economic losses from climate change could reach $23 trillion, three or four times the scale of the 2008 financial crisis.
      Mr....
    • ( ECONOMIC, REGULATORY )  top
    • (Read more)   top I'm pleased to be here with you today to discuss the President's budget and the Treasury Department's top priorities. President Trump's economic freedom agenda is working. Tax cuts, regulatory reform and better trade deals are improving the lives of hardworking Americans.
    • (Read more)   topWe've been able to sustain, along with regulatory reform and implementation of USMCA forthcoming, the longest period of economic expansion in American history
    • ( ECONOMIC, MARKETS )  top
    • (Read more)   topPrior to current position, Secretary Mnuchin was finance chairman for the Trump for President organization and served as a senior economic advisor. He has very extensive experience in global financial markets, U S government securities, mortgages, money markets and municipal bonds.
    • ( CBO )  top
    • ( CBO, GROWTH )  top
    • (Read more)   top ... actuals for any of the other years, but the differences between CBO and OMB is pretty dramatic on the economic numbers. What does CBO know that you don't know and why were they able to project the growth for the first year we have 2019 when you are projecting over 3% throughout this time.
      Secretary Mnuchin: (53:21)
      Well, there were a significant number of things that impacted the growth this...
    • (Read more)   topSee ( BUDGET , GROWTH )
    • ( CBO, CORPORATE )  top
    • (Read more)   topSee ( REFORM , CORPORATE )
    • (Read more)   top Since I wrote you the nonpartisan CPO revised its corporate revenue projections that over the next 10 years they're projecting $110 billion less in revenue than previously thought
    • ( CBO, REVENUE )  top
    • (Read more)   topSee ( ECONOMY , REFORM , REVENUE )
    • (Read more)   top Since I wrote you the nonpartisan CPO revised its corporate revenue projections that over the next 10 years they're projecting $110 billion less in revenue than previously thought
    • ( CBO, OMB )  top
    • (Read more)   topSee ( BUDGET , OMB )
    • ( CBO, BUDGET )  top
    • (Read more)   topSee ( GROWTH , ECONOMIC , BUDGET )
    • ( CBO, TAXES )  top
    • (Read more)   topSo my sense is that the CBO downward revisions also come in large part because companies are actually paying more in section 965 taxes, has the repatriation taxes in the first couple of years than they expected.
    • ( CBO, TRADE )  top
    • (Read more)   topSee ( ECONOMY , REFORM , TRADE )
    • ( CBO, SO-CALLED )  top
    • (Read more)   top Do you have a rebuttal for that. The numbers are rather staggering. I think CBO said they estimated that there's so-called tax cuts added an additional $228 billion to the deficits for 2019.
    • ( CBO, RECALL )  top
    • (Read more)   top
      Similar, we all recall the misinformation campaign in last year's filing season when critics tried to persuade the public that tax reform was a failure because early tax refunds were down
    • ( CBO, POLITICAL )  top
    • (Read more)   top Critics continuously use preliminary and incomplete data to distort the efforts of tax reform to support a political narrative. Critics focus on revised CBO projections of corporate tax receipts, is just the latest installment as I discussed in my statement yesterday to my fellow senators.
      Mr. Grassley:...
    • ( SECURITY )  top
    • ( SECURITY, FUNDING )  top
    • (Read more)   topSee ( GROWTH , FUNDING )
    • (Read more)   topSee ( BUDGET , FUNDING )
    • ( SECURITY, TERRORIST )  top
    • (Read more)   top Secretary, when you testified to this committee last year about the Treasury's budget, I spoke about the importance of robustly funding Treasury Department programs that combat terrorist funding streams and other forms of illicit financing.
      Senator Hassan: (57:53)
      I am pleased to see that the 2021 Treasury budget proposes increased funding for the Office of Terrorism and Financial Intelligence...
    • (Read more)   top These offices play a vital role in combating emerging national security threats. For example, terrorist and other transnational criminal organizations are increasingly using cryptocurrencies to finance their activities due in no small part to the difficulty inherent in tracing these transactions and tying...
    • ( SECURITY, TANF )  top
    • (Read more)   top... to address the Democratic members of Congress, increase in government spending that you cite to, is that the reason why in the current budget, this administration seeks to cut 200 billion from SNAP and TANF for women and children, cut 170 billion from student loans, cut $90 billion from seniors on social security, cut $76 billion from persons with disability and cut 59 billion from farmers
    • (Read more)   top
      I show a cut for student loans, social security, persons with disability, for farmers, and for women and children who seek assistance through SNAP and TANF. If that is not a cut then I would love to talk to you about what it is this administration values and how these groups, important individuals in our communities are being effected
    • ( SECURITY, STUDENT )  top
    • (Read more)   top... increase in government spending that you cite to, is that the reason why in the current budget, this administration seeks to cut 200 billion from SNAP and TANF for women and children, cut 170 billion from student loans, cut $90 billion from seniors on social security, cut $76 billion from persons with disability and cut 59 billion from farmers
    • (Read more)   top
      I show a cut for student loans, social security, persons with disability, for farmers, and for women and children who seek assistance through SNAP and TANF. If that is not a cut then I would love to talk to you about what...
    • ( SECURITY, SPENDING )  top
    • (Read more)   topMy question to you is, in order to address the Democratic members of Congress, increase in government spending that you cite to, is that the reason why in the current budget, this administration seeks to cut 200 billion from SNAP and TANF for women and children, cut 170 billion from student loans, cut $90 billion...
    • ( SECURITY, SNAP )  top
    • (Read more)   top... in order to address the Democratic members of Congress, increase in government spending that you cite to, is that the reason why in the current budget, this administration seeks to cut 200 billion from SNAP and TANF for women and children, cut 170 billion from student loans, cut $90 billion from seniors on social security, cut $76 billion from persons with disability and cut 59 billion from farmers
    • (Read more)   top
      I show a cut for student loans, social security, persons with disability, for farmers, and for women and children who seek assistance through SNAP and TANF. If that is not a cut then I would love to talk to you about what it is this administration values and how these groups, important individuals in our communities are being effected
    • ( SECURITY, INDIVIDUALS )  top
    • (Read more)   top... from seniors on social security, cut $76 billion from persons with disability and cut 59 billion from farmers. Is that what this administration thinks is the way to balance this budget on the backs of individuals because they don't necessarily work for the military.
    • (Read more)   top... for women and children who seek assistance through SNAP and TANF. If that is not a cut then I would love to talk to you about what it is this administration values and how these groups, important individuals in our communities are being effected.
    • ( SECURITY, INCORPORATION_TRANSPARENCY )  top
    • (Read more)   topAt the moment we probably have two Republican votes for the judiciary version of the Incorporation Transparency bill, and I don't know that we have any on the banking committee.
      Mr. Whitehouse: (01:50:23)
      Your people in your administration needs to make a bigger effort politically to emphasize...
    • ( SECURITY, FARMERS )  top
    • (Read more)   top... billion from SNAP and TANF for women and children, cut 170 billion from student loans, cut $90 billion from seniors on social security, cut $76 billion from persons with disability and cut 59 billion from farmers. Is that what this administration thinks is the way to balance this budget on the backs of individuals because they don't necessarily work for the military
    • (Read more)   top
      I show a cut for student loans, social security, persons with disability, for farmers, and for women and children who seek assistance through SNAP and TANF. If that is not a cut then I would love to talk to you about what it is this administration values and how these groups, important...