January 30, 2017

Cardin to Vote Against Mnuchin Nomination in Finance Committee and Full Senate

WASHINGTON – U.S. Senator Ben Cardin (D-Md.), a Member of the Senate Committee on Finance, released the following statement outlining why he will vote against the nomination of Steve Mnuchin to be Treasury Secretary.

“There is no doubt that Mr. Mnuchin is smart and has made a lot of money during his career, but it does not necessarily make him qualified to steer America’s economy. Based on my personal meeting with Mr. Mnuchin, his performance during his confirmation hearing, and his responses – or non-responses – to follow up questions for the record, I cannot be sure that Mr. Mnuchin is adequately prepared for the enormous responsibilities of U.S. Treasury Secretary. We need someone who has given some serious thought to the broad responsibilities and decisions that will affect every resident of this country. This includes showing, to Congress and to the American public, at least some inclination to answer high-level questions about tax policy, trade policy, and economic growth.  I am deeply concerned that Mr. Mnuchin’s uncompromising view that tax cuts for the wealthy naturally equal massive economic growth—without being able to point to any historical instance or analysis where this has been the case—will leave our most vulnerable Marylanders behind and will drive our country further into debt.  Because of these views, and because I am not at all assured that Mr. Mnuchin’s experiences will lead to him being a successful advocate for the financial well-being of all Americans, I will oppose his nomination.”

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