A top Democrat really wants to know what happened to an analysis of the Republican taxes reform bill that was repeatedly promised by Treasury Secretary Steven Mnuchin.
Ron Wyden, the position Democrat on the Senate Finance Committee, is asking Treasury’s internal watchdog agency to discover whether there is any “political interference” with the analysis of the GOP taxes overhaul system according to a letter sent Tuesday. He’s also seeking answers about a 2012 monetary paper that has disappeared from Treasury’s website.
“I am worried about the likelihood that the Treasury Department is burying critical research [in] an effort to mislead the general public,” Wyden wrote in a letter seen by CNN.
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Wyden said the 2102 monetary paper had “contradicted” an assertion made by Mnuchin in September about how exactly corporate taxes cuts could finally benefit workers.
Previously this fall, the secretary said “most economists assume that over 70% of corporate taxes are payed for by the employees.” However, the paper by the agency’s Office of Taxes Policy “strongly disputed that bottom line,” arguing that employees only end up spending money on 18% of corporate taxes. That paper soon after disappeared from the Treasury Department’s website.
Rich Delmar, general counsel for the Treasury inspector general, told CNN the agency is definitely working to integrate questions posed by the senator into the agency’s ongoing review.
Delmar didn’t offer any guidance on when its review will be complete, but he called the issue a “top priority” for the agency.
A Treasury spokeswoman did not respond to a request for comment.
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Wyden’s request comes on the heels of another letter sent to the inspector general of the agency by Democratic Sen. Elizabeth Warren last week. Her letter, which was sent the evening before the Senate prepared to vote on a sweeping taxes reform plan, raised concerns about the promised analysis that has yet to be unveiled by the agency.
The IG’s office had begun looking into the problem before it received Warren’s letter, according to Delmar.
In her letter, Warren also raised the likelihood Mnuchin had “misled the general public about the level of the Treasury Department’s analysis, “despite his repeated public assurances an analysis existed and the tax package would ‘pay for itself.'”
Mnuchin has repeatedly pledged that a lot more than 100 career workers were “working night and day on running scenarios” showing the way the costs of the $1.5 trillion GOP proposal will be covered by monetary growth. He possibly noted in September an in-house analysis showed the bill would decrease the deficit by $1 trillion instead of increase it.
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At The Wall Street CEO Council conference in November, Mnuchin reaffirmed that Treasury had completed an analysis and pledged “complete transparency” in its accounting for the growth benefits of the tax plans.
The agency has yet to release anything.
Warren has asked the inspector general to discover whether Treasury’s personnel were directed to investigate the Republican taxes proposal at almost all and if so, so why the benefits weren’t publicly released or given to Congress. She as well asked the inspector to look into whether there is any political interference that could have impacted the outcome of the analysis or who participated in the efforts.