Tax bill's impact from a government shutdown would be negligible if not zero: Mulvaney
As the federal government’s Friday night funding deadline approaches, concerns are mounting over a potential government shutdown. The biggest holdout for Democrats is the lack of a solution to Obama’s Deferred Action for Childhood Arrivals (DACA) that President Trump ended in September.
However, according to Office of Management and Budget Director Mick Mulvaney, a government shutdown is still unlikely.
“We’re not expecting a shutdown and if we do…it would be for one reason, and one reason only, it would be because of Democrats in the Senate,” Mulvaney told FOX Business’ Stuart Varney on “Varney & Co.”
Yet, if a shutdown does occur, Mulvaney said he doubts it will have any impact on implementation of the tax reform package.
“We’ve not been able to determine yet whether or not the folks who are working on doing the forms are what they call ‘accepted’ or ‘non-accepted’ employees, would they come to work during a shutdown,” he added.
But Mulvaney explained that if tax reform’s implementation is impacted, it would only be temporary.
“Those folks simply wouldn’t be allowed to work on it for the day or two that the government is shut down. So, the impact on the overall tax bill would be negligible if not zero.”
As acting director of the Consumer Financial Protection Bureau (CFPB), Mulvaney also weighed in on concerns that bitcoin investors in the U.S. need better protections.
“It’s a fair question, I think everybody deserves a certain amount of protection and certainly we will get a chance to look at that possibly as we look [at] a lot of different, new types of financial currencies and so forth,” he said.