Steven Mnuchin: “For example, the President-elect said he'd close the carried interest loophole, a favorite of investment fund managers…”

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.

It would move money offshore. It would disproportionately hurt pensions, 401(k)s, and people who are saving for retirement.

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.

I share your concern about this potential tax.