Washington – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today in response to President Donald J. Trump’s budget proposal for Fiscal Year 2020:
“President Trump’s discretionary budget plan released today highlights Treasury’s role in carrying out critical Administration initiatives to maintain and promote strong economic growth, create job opportunities, and strengthen national security by protecting the integrity of the financial system.
“The proposed budget ensures Treasury has sufficient resources to continue implementing the country’s most comprehensive tax reform, which is helping American families, fueling economic growth, and contributing to historically low unemployment levels. It also reflects Treasury’s commitment to greatly modernize the IRS’s IT infrastructure to advance cybersecurity, safeguard taxpayer data, and improve taxpayer experience. The integrity of the voluntary tax compliance system depends on it.
“In supporting the President’s national security polices, the proposed budget equips Treasury’s Office of Terrorism and Financial Intelligence and offices across the agency with the resources it needs to continue its critical work to protect the financial system from abuse, exploitation and counter emerging threats. Treasury will also strengthen and expand the CFIUS review process to ensure that we protect our national security, while preserving an open investment environment to foster innovation and growth.”
For information about the President's Budget for Fiscal Year 2020, please visit the Office of Management and Budget's webpage.