Los Angeles Times

Tax cut failure could rattle stock market, Mnuchin warns

WASHINGTON - Treasury Secretary Steven T. Mnuchin said that failure to pass the Republican tax overhaul would trigger a "significant" drop in the stock market, which has rallied to record highs in recent months.

His warning, which some market analysts disputed, came as a new poll showed 52 percent of Americans oppose the tax plan, which is centered on huge cuts for corporations.

Only a third of respondents in the CNN poll said

You're reading a preview, sign up to read more.

More from Los Angeles Times

Los Angeles Times4 min read
Lawsuit In California Targets Plastics Pollution From Coca-Cola, Pepsi And Other Companies
LOS ANGELES - Escalating a campaign to make corporations responsible for the waste they produce, an environmental group filed suit Wednesday against some of the world's biggest food, beverage and consumer goods companies in a California court, arguin
Los Angeles Times1 min read
Coronavirus Concerns Prompt Red Sox To Quarantine Prospect From Taiwan
A Boston Red Sox prospect from Taiwan has been prevented from joining the team at spring training because of concerns about the coronavirus outbreak. A Red Sox spokesperson told the Boston Globe that the team is using "an overabundance of caution" wi
Los Angeles Times6 min read
Just What Is It About Bernie Sanders That Young Voters Love?
LOS ANGELES - It is one of the most consistent - and counterintuitive - facts behind Bernie Sanders' four-year march from insurgent presidential contender to front-runner: The oldest candidate in the Democratic field owes his success to the youngest