Market will see ‘significant’ drop if tax reform doesn’t pass

Treasury Secretary Steven Mnuchin believes the market has priced in expectations that will President Donald Trump’s administration in addition to also Congress will pass tax reform in addition to also that will that will won’t be pretty if those efforts fail.

“There can be no question that will the rally from the stock market has baked into that will reasonably high expectations of us getting tax cuts in addition to also tax reform done,” Mnuchin said from the “Politico Money” podcast interview. “To the extent we get the tax deal done, the stock market will go up higher. however there’s no question in my mind that will if we don’t get that will done you’re going to see a reversal of a significant amount of these gains.”

The S&P 500 has rallied 20 percent since the Nov. 8 election through Tuesday.

Mnuchin also gave an “absolute guarantee” that will Trump will sign a tax reform bill before the end of This kind of year.

Trump has tweeted more than 20 times since the election extolling the market’s gains.

Read the full Politico story here.

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