Steve Mnuchin Failed to Reveal $100 Million in Assets, Links to Tax Haven Company
Steve Mnuchin Failed to Reveal $100 Million in Assets, Links to Tax Haven Company
By Lauren Pearle ABC News
Steven Mnuchin, President-elect Donald Trump’s pick for Treasury secretary, found himself on the defensive for failing to disclose $100 million in real estate assets on his financial disclosure forms before today's confirmation hearing.
Sen. Debbie Stabenow, D-Michigan, pointedly asked Mnuchin, a former hedge fund manager, if he would support closing tax loopholes in the U.S. that "extremely wealthy people use, such as yourself, to avoid paying taxes?"
She said Mnuchin had also failed to include his position as a director of a Cayman Islands holding corporation.
Mnuchin said his offshore bank accounts in the Cayman Islands were used only to benefit non-profits and pension funds and were allowable by law. Regarding the omission about his position in a shell company, Mnuchin claimed the mistake was an oversight.
READ MORE: http://abcnews.go.com/Politics/trumps-trea...
By Lauren Pearle ABC News
Steven Mnuchin, President-elect Donald Trump’s pick for Treasury secretary, found himself on the defensive for failing to disclose $100 million in real estate assets on his financial disclosure forms before today's confirmation hearing.
Sen. Debbie Stabenow, D-Michigan, pointedly asked Mnuchin, a former hedge fund manager, if he would support closing tax loopholes in the U.S. that "extremely wealthy people use, such as yourself, to avoid paying taxes?"
She said Mnuchin had also failed to include his position as a director of a Cayman Islands holding corporation.
Mnuchin said his offshore bank accounts in the Cayman Islands were used only to benefit non-profits and pension funds and were allowable by law. Regarding the omission about his position in a shell company, Mnuchin claimed the mistake was an oversight.
READ MORE: http://abcnews.go.com/Politics/trumps-trea...
