Financial Regulation

The only solution out of the quagmire of Trump’s National Finance Chair supervising an agency critical to Mueller’s investigation is for Mnuchin to recuse himself from supervision of FinCEN during the duration of Mueller’s investigation.

On the 17th of this month, a group of House Democrats, including Representative John Delaney (D-MD.), delivered a letter to President Trump offering, essentially, a trade: A tax holiday for international corporations in exchange for the guarantee that the money from that repatriation would be used exclusively to fund the country’s long-overdue infrastructure maintenance projects. Earlier this year Rep. Delaney also authored a tax and infrastructure bill which would allow corporations with funds outside the U.S. to return that money to the country at a tax rate of 8.57 percent (instead of the top corporate tax rate of 35 percent). Delaney, in his statement, called the bill a “pro-growth reform” and his co-sponsor, Rep. Rodney Davis (R-IL), said that it would “spur job creation”.