The Honorable Steven Mnuchin

Secretary of the U.S. Department of the Treasury | January 12, 2018
Discussed the Treasury's involvement in tax reform, raising the debt ceiling, and cryptocurrencies.

The Honorable Steven T. Mnuchin, Secretary of the US Department of the Treasury, was the featured guest for the first Economic Club event in 2018. Secretary Mnuchin’s remarks touched on several US Treasury initiatives, including the recently authorized tax reform, the national debt and possible reform to raising the debt limit, as well as Treasury’s focus on regulating cryptocurrencies, among other topics.

Secretary Mnuchin claimed that he could not be more pleased with the outcome of the tax reform legislation, highlighting the importance of a team effort while writing the bill.  “… It was very clear to us from the beginning that we needed to make sure the Treasury, the White House, the House and the Senate were on the same page,” said Secretary Mnuchin. He also stated that he believes tax reform will pay for itself and will not increase the national debt. When asked more about the national debt, Secretary Mnuchin called for a refinement of the debt limit process. “I won’t go so far as saying we shouldn’t have a debt limit, but I do believe that when money is authorized to be spent, there should be some mechanism that the debt limit is also raised to pay for it,” he said.

Secretary Mnuchin also highlighted the Treasury Department’s recent focus on cryptocurrencies, such as Bitcoin. The two major concerns he cited regarding cryptocurrencies were making sure that “bad people cannot use these currencies to do bad things,” and that consumers are protected from harm caused by a lack of fully understanding the risks.

Finally, Secretary Mnuchin said that being in his current position is the most interesting thing he has ever done, as he is able to be involved with domestic and international finance, as well as managing sanction programs and being on the National Security Council. “…The thing that’s great about this job is it touches on so many different aspects of the government,” said Secretary Mnuchin.

View news coverage of the event featuring Secretary Mnuchin here.

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