Tax reform is a "pass/fail exercise," Treasury Secretary Steve Mnuchin said Thursday in response to a question about the Trump administration's specific goals for tax reform.
Mnuchin delivered the line during an appearance at the White House press briefing when asked if the administration was still aiming for a corporate tax rate of 15 percent, or if it would settle for 25 percent. The rate under current law is 35 percent.
"We're going to get this passed," Mnuchin said, with provisions that are "great for this economy, great for Americans, putting people back to work."
A top Republican senator, Orrin Hatch of Utah, suggested this week that the administration is backing off its opening bid of a 15 percent corporate tax rate.
Mnuchin also said Thursday that the administration is committed to passing tax reform in 2017, regardless of what happens with pending healthcare legislation.