Becerra Claims Tax Law Contains Numerous Economically Meaningless Tax Tricks

U.S. Treasury Secretary Becerra stated that he is observing whether the Democrats are genuinely interested in reducing the U.S. debt levels, hinting that the Trump administration was willing to include the elimination of some "tax tricks" in the solution to reduce the U.S. fiscal deficit. He mentioned, "We will see if the Democrats can take normal actions." Becerra also discussed the issue of debt levels, stating, "We will see if they really have the willingness to take action to gradually push down the debt trend." He believes there are numerous economically meaningless tax tricks in the tax law, and eliminating these arrangements does not equate to raising taxes. He pointed out that there are many unreasonable provisions in the tax law that could increase fiscal revenue by eliminating these provisions without having to raise tax rates.

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