On Monday, the Senate confirmed Steven Mnuchin, a former Hollywood film financier, to be the new Treasury Secretary. Now, president Donald Trump has another key person in a very important position. Mnuchin was Trump’s main campaign fund-raiser. With him by his side, Trump may now begin the overhaul of the tax code, the renegotiation of trade deals all over the world and the project to remake the financial regulations.
A key position
One Democrat joined the Republicans in approving the nomination. Still, a long debate took place during which Democrats argued that Mnuchin’s experience on Wall Street was the clearest example of corporate malpractice. This led to the financial crisis from 2008. However, his work will start right away. Firstly, he will need to finish Donald Trump’s tax plan and raise the borrowing limit of the government. According to the Trump administration, they are going to release a plan to rewrite the tax code soon.
While Trump and the Republicans have painted Mnuchin as the perfect candidate for the job of Treasury Secretary, Democrats have said that he is the one person who should not be in this position. They characterized him as a source of everything that is wrong in American corporations. Many Democrats spoke on the Senate floor during the confirmation and said that he is one of the most important factors which helped bring America down. They were also not shy to speak their minds and described Mnuchin as “greedy”, “unethical” or the “foreclosure king”. He was called a “robber” who gained millions by taking money from the Americans who are working and saving money.
Supported by one Democrat
There was only one Democrat in the sea of enemies who actually supported Mnuchin, Senator Joe Manchin III of West Virginia. The reason for this is because the Progressive Change Campaign Committee immediately said that Manchin’s vote will count in the perspective of his future as a Democrat. Meanwhile, Republicans praised Mnuchin and his credentials, experience, and qualifications. However, Mnuchin had some issues when it came to verbalizing some aspects of his job. He did not seem that well-prepared for it. Still, everyone finally agreed that he knew his business and what economy is all about.
Interestingly enough, Mnuchin was not the only Cabinet member of president Trump who was confirmed on Monday. The Senate also voted for David Shulkin as the new head of the Department of Veterans Affairs. He is actually a holdover from the Obama administration who was confirmed with a unanimous vote.
It is interesting to note that the hardest part for Trump’s Cabinet comes now. On Thursday, Andrew Puzder, the president’s nominee for labor secretary will face confirmation too. The issue is that many Republicans who are on the committee refused to support him. The reason for this is that he is a fast-food chain executive. Many people have accused him of promoting policies which are dangerous for workers in this industry. All in all, we will see where things will go from here for the president’s Cabinet choices and if he will face any more problems from now on.
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