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Mnuchin: Pass This Tax Bill or Markets Are Going to Tank

Treasury Secretary Steven Mnuchin has issued a warning to Congress: If President Trump tax overhaul bill, the stock market is going to tank. “There is no question that the rally in the stock market has baked into it reasonably high expectations of us getting tax cuts and tax reform done,” Mnuchin told Politico, noting that the Dow Jones Industrial Index is up nearly 25 percent since Trump was elected. “To the extent we get the tax deal done, the stock market will go up higher. But there’s no question in my mind that if we don’t get it done you’re going to see a reversal of a significant amount of these gains.”