McConnell, Mnuchin talk tax reform, debt ceiling in Louisville

Majority Leader Mitch McConnell was back in his home state of Kentucky, talking Tax Reform and a few other hot topics. But didn't say much about the President.

LOUISVILLE, Ky. (WHAS11) -- U.S. Senate Majority Leader Mitch McConnell, R.-Kentucky, and U.S. Treasury Secy. Steven Mnuchin spoke at the Greater Louisville Inc.'s Capitol Connection luncheon Monday afternoon, promising tax reform.

"So what we attempt to try to accomplish is comprehensive tax reform that brings the rates down to make America more competitive," McConnell said.

"It is in the President's highest focus because it is critical for economic growth," Mnuchin said.

McConnell and Mnuchin spoke of simplifying taxes and proposed middle-income tax cuts. They also discussed lowering corporate tax rates to keep businesses and jobs in the United States.

Both men also spoke on the importance of raising the debt ceiling. Mnuchin said he hopes Congress will pass a clean increase to the borrowing limit.

"We cannot put the credit of the United States on the line," he said. "We are the reserve currency of the world. We are the major economy of the world."

"Let me just add, there is zero chance - no chance we won’t raise the debt ceiling. No chance," McConnell said. "America is not going to default and we'll get the job done in conjunction with the Secretary of Treasury."

The two men also answered questions from the luncheon's guests from an array of topics like North Korea, which McConnell said China needs to be more vocal about the situation.

"This is the most vexing, most challenging problem this administration inherited," he said.

McConnell was also asked about healthcare reform, which President Trump has publicly criticized him for the Senate's failure to repeal the Affordable Care Act.

"The Democrats have been pretty uninterested in any reforms," McConnell said. "They're really interested in sending money to insurance companies, but not very interested in the reforms."

© 2017 WHAS-TV


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