LOCATIONS
HOUSTON
16225 Park Ten Place, Suite 500
Houston, TX 77084
Century City
10100 Santa Monica Blvd., Suite 300 
Century City, CA, 90067
CHICAGO
30 S. Wacker Drive, 22nd Floor
Chicago, IL 60606
NEW YORK
590 Madison Avenue, 21st Floor
Manhattan, NY 10022
SHERMAN OAKS
15233 Ventura Blvd Suite 500 
Sherman Oaks, CA 91403
VIRGINIA
999 Waterside Drive, Suite 2600
Norfolk, Virginia, 23510
  • RSS Social Icon
  • Facebook Social Icon
  • Yelp Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon

© 2018 Optimum Wealth Management   Privacy Policy    Terms of Service

“The tax resolution companies reference herein are not law firms nor are such representations being made. While they may employ attorneys, CPA’s and enrolled agents pursuant to IRS Regulation Circular 230, the use of the term ‘Tax Attorney’ is used as a general or generic term referencing attorneys seasoned in aspects of tax relief and collection work. They may or may not have a specialized degree in taxation or be individually licensed in your particular state.”

Mnuchin warns of 'significant' stock market drop if tax reform fails

October 18, 2017

treasury Secretary Steven T. Mnuchin said Tuesday 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% of Americans oppose the tax plan, which is centered on huge cuts for corporations.

 

Only a third of respondents in the CNN poll said they supported the proposal from the Trump administration and congressional Republican leaders, which lawmakers are scrambling to turn into legislation.

 

With Congress facing a difficult task in passing a tax bill by the end of the year, Mnuchin increased the stakes by saying the recent stock market rally would end if the effort fails.

 

"'There is no question that the rally in the stock market has baked into it reasonably high expectations of us getting tax cuts and tax reform done,” Mnuchin told Politico in a podcast interview that aired Tuesday.

 

“I think to the extent we get the tax deal done, the stock market will go up higher,” he said. “But there's no question in my mind that if we don't get it done you're going to see a reversal of a significant amount of these gains.”

 

President Trump has repeatedly touted the stock market gains since his election last fall. The Dow Jones industrial average is up about 27% and the Standard & Poor’s 500 index is up about 20%.

 

 

 

Please reload

BBB-A-Rating.png