Senate Confirms Treasury Secretary Nominee

CCH Tax Day Report

The Senate approved President Trump’s nomination of Steven Mnuchin as Treasury secretary on February 13 by a 53–to-47 vote. Senate Finance Committee (SFC) Republicans on February 1 approved Mnuchin’s nomination by a 14-to-0 vote (TAXDAY, 2017/01/20, C.2). The SFC vote by Republicans came after Democrats did not appear for scheduled confirmation proceedings.

“Mr. Mnuchin has 30 years of experience working in a variety of capacities in the financial sector,” SFC Chairman Orrin G. Hatch, R-Utah said February 13 on the Senate floor in support of Mnuchin. “He has experience managing large and complicated private-sector enterprises and in negotiating difficult compromises and making tough decisions—and being accountable for those decisions,” he added.

In opposition, however, SFC ranking member Ron Wyden, D-Ore., said February 13 on social media, “Mnuchin would be in charge of spearheading President Trump’s tax plan,” which Wyden has said would largely benefit the wealthy.

With the Treasury secretary position filled, nominees will now be selected to fill positions of assistant secretary tax policy, international and legislative affairs, which may prove pivotal in moving forward the Trump administration’s tax reform agenda.

By Jessica Jeane, Wolters Kluwer News Staff

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