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Mary Burton REALTORĀ® - Sales Associate 619-654-1090 m
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CalBRE: 01732206

New Treasurey Secretary Announces Ambitious Goals

The recently confirmed Secretary of the Treasury, Steven Munchin, today announced his ambitious goals for a U.S. tax-code overhaul by August. He also wants to deliver economic growth at rates not seen in more than a decade, according to the Wall Street Journal. He said that the slower economic growth since the financial crisis had primarily been an anomaly and a result of Obama administration policies that can be reversed.

President Donald Trump has repeatedly made promises for tax reform and regulatory cuts since he took office without giving many details. Mnuchin said the administration is "primarily focused on a middle income tax cut and a simplification for business." He reiterated what he told CNBC in November that he is focused on any tax cuts for the wealthy being canceled out with closed loopholes.

The new Treasury Secretary said the administration still aims for "sustainable growth of 3 percent or more." He said he expects to hit that mark more toward the end of next year.

Home Depot Ends Up 2016 on TOP

Home Depot defied naysayers with stronger-than-expected sales for Q4 2016, and sales scheduled to may be poised to stay on track thanks to rebounding home sales. The home-improvement retailer came out with the news in a report Tuesday that profits had leapt to $1.44 a share over that time period, capturing $1.7 billion in net earnings. Those numbers are up from $1.17 per share and $1.5 billion in net earnings reported in fiscal year 2015. The change reflects a 5.8-percent increase year-over-year.

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