April 21, 2017
President Trump on Friday will sign one executive order and two presidential memoranda dealing with financial regulation and taxes at the Treasury Department, according to the White House.
All three documents will direct Treasury Secretary Steven Mnuchin to analyze key provisions of the Dodd-Frank Act and the tax code, and report back on ways to improve them. CNBC first reported that Trump would sign two executive orders at the Treasury.
Trump promised to “dismantle” Dodd-Frank during his campaign, and signed two executive orders in February instructing his cabinet to look for economically beneficial reforms they could make to the law. It’s unclear how the two memoranda to be signed Friday differ from previous orders.
The executive order directs Mnuchin to review “significant” tax regulations issued in 2016, and determine if any are too costly, complex or outside of an agency’s authority. The White House and Republican lawmakers are eager to reform the country’s tax code for the first time in 30 years, and are working on separate plans to do so, though only Congress can write and repeal taxes.
This article was posted: Friday, April 21, 2017 at 4:12 am