World

Trump reduces tax burdens

Presidential decree today on financing and reducing tax burdens is expected to be signed by US President Donald . Trump, while two memorandum on the review of the federal regulations governing the operation of corporate consortia will be signed.

Memorandums ask Finance Minister Steven Mnuchin to review the operation of the two banks (Dodd-Frank Wall Street Reform and Consumer Protection Act) on the functioning of two banks (Orderly Liquidation Authority, Financial Stability Supervision Council -FSOC). This legislation was triggered by President Barack Obama’s previous US government after the financial crisis of 2008-2009.

The signing of the above mentioned official texts will be made today by Trump to the US Treasury Department, which is a short distance from the White House, while implementing a basic election promise, centered on political and economic interest in reducing taxation .

The Finance Minister, on his part, will review important tax regulations triggered in 2016 to see if they are abusively and to the detriment of US taxpayers and is called upon to abolish complex legal provisions that make it difficult to apply the Tax Code. Mnuchin said yesterday that the Finance Ministry is working day and night to reform the tax system, and soon will have succeeded in reorganizing it.

Congress on its part recently failed to implement another pre-election promise by Trump on the abolition and replacement of the Obama program, which was promoted by Obama and is widely known as Obamacare.