Mnuchin: Trump May Backdate Tax Cut to Jan. 1 to Boost Economy

Treasury Secretary Steven Mnuchin said the Trump administration is considering plans to backdate changes to the U.S. tax regime to the start of the year.

Backdating is something we’re considering “and it would be a big boon for the economy,” Mnuchin said at CNBC’s Delivering Alpha conference in New York.

Mnuchin said he doesn’t know if he can achieve the Trump administration’s goal to lower the corporate tax rate to 15 percent. “I don’t know if we will be able to achieve that, Mnuchin said. “What the exact number is, we’ll see. Reconciliation can be used if tax reform legislation can’t get the required 60 Senate votes, he said.

President Donald Trump plans an aggressive travel schedule, taking him to as many as 13 states over the next seven weeks, to sell the idea of a tax overhaul as the administration tries to avoid repeating the communications failures of its attempt

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