On the recordDecember 4, 2019
It would move money offshore. It would disproportionately hurt pensions, 401(k)s, and people who are saving for retirement.
Said by
Steven Mnuchin
Source
congress.govIt would move money offshore. It would disproportionately hurt pensions, 401(k)s, and people who are saving for retirement.
Mnuchin explains how the tax could lead to offshore money movement and harm retirement savings.
Share
More from Steven Mnuchin
When we needed to get this done last March, it got done with overwhelming bipartisan support.
Let me be clear: That is a false choice. Americans should not have to, and did not have to, choose between quickly getting aid during a crisis and preventing the theft or waste of billions of tax dollars.
There is simply no justification or justifiable reason to take these tools away, with the pandemic crisis worse than it has been.