Steven Mnuchin: “I promised to work with Congress to create and maintain prosperity for all Americans.”

I would urge Congress to move quickly on the PPP, for which there seems to be enormous bipartisan support.

The reforms would standardize the approach to capital regulation, improve the quality and consistency of bank capital requirements, and level the playing field for U.S. banks.

We believe that a major reason why the process is going forward is the maximum pressure campaign that not only we have done, but we have worked with our allies and China on, and we will continue to do so.

If the tax were put on U.S. Government securities, it would clearly just raise the cost of the government borrowing.