Legislation

Treasury Department releases analysis of GOP tax plan. It’s only one page long.

The Treasury Department on Monday released a brief one-page analysis of the Republican tax plan — despite Secretary Steve Mnuchin’s earlier claims that “over 100 people” within the department were working on a detailed analysis.

“We are pleased to release an analysis demonstrating the revenue impact of the administration’s economic agenda,” Mnuchin, a former Goldman Sachs banker, said in a statement Monday.

The analysis, from the department’s Office of Tax Policy, claims that the GOP plan would raise $1.8 trillion over the next decade — though that projection was dismissed in a statement Monday as “nothing more than one page of fake math” by Senate Minority Leader Chuck Schumer, D-N.Y., and is at odds with estimates from Congress’ own nonpartisan Joint Committee on Taxation.

In an interview with CNBC’s John Harwood earlier this year, Mnuchin said that the department’s work on the Republican tax plan would be “completely transparent.”

Related: Senate passes Republican-backed tax bill along party lines

“It will be scored by the joint tax group,” he said. “It will be scored by outside groups. It will be scored by the Treasury department. We have over 100 people working on this, and it will be a completely transparent process.”

But in a report last month, The New York Times found that the Office of Tax Policy had largely been sidelined from the type of process that Mnuchin described.




Image: Steven Mnuchin, Louise Linton, Leonard Olijar

Treasury Secretary Steven Mnuchin, right, and his wife Louise Linton, hold up a sheet of new $1 bills.