Daily Tax Update - November 30, 2016: Steven Mnuchin Tapped for Treasury Secretary

Steven Mnuchin Tapped for Treasury Secretary:  Various news sources have reported President-elect Donald Trump has selected Steven Mnuchin, a 17-year veteran of Goldman Sachs, Inc., as his pick for Treasury Secretary.  Mr. Mnuchin requires Senate confirmation before assuming the post.  If confirmed, Mr. Mnuchin pledged today to focus on significant reform of the federal tax system.

Rep. Levin to Step Down from Ways and Means Committee Leadership:  Rep. Sander Levin (D-MI) announced that he will not seek reelection as the ranking member of the House Ways and Means Committee in order to focus on health care and trade and to make room for new leadership.  Rep. Levin was the committee’s chairman in 2010 and 2011, and has been its ranking member since that time.