Mnuchin: Zero Cuts To Entitlements In New Budget

"We're focused on regulatory relief and we're focused on just a whole lot of changes to make the middle-class tax cuts and to make business competitive", Mnuchin said, adding that the goal is to get back to a 3 percent or higher GDP.

But for the time being, at least, the Trump budget plan that the president will outline during his first address to a joint session of Congress Tuesday night will leave untouched entitlement programs that constitute the major drivers of the nation's mounting debt.

Many recent deportees and other potential immigrants along the Mexican border to the United States are having second thoughts about whether or not to attempt an illegal crossing, the Los Angeles Times reports.

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He said: "We are not touching those now". "So don't expect to see that as part of this budget".

Trump insisted Monday morning that tax reform is not an option until the White House and Congress can push through a plan to "repeal and replace" Obamacare. On the business side, Trump wants to "create a level playing field for US companies to be able to compete in the world". "We are very focused on other aspects and that's what's very important to us".

"The American economy has been too slow for too long and we're going to start with tax reform". "And we're doing it under lightning-fast proposals". "So although there may be an absolute lower rate, that doesn't necessarily mean it's a corresponding drop in revenues".

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In the Fox interview, Mnuchin also addressed various tax proposals created to increase the competitiveness of USA exports and reduce the trade deficit.

Mnuchin also attempted to assuage fears of a move towards protectionism, saying Trump "believes in free trade, but he believes in fair trade".

"There are certain aspects that the president likes about the concept of a border-adjusted tax, there are certain aspects that he's very concerned about", Mnuchin said.

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