Menendez Presses Treasury Nom Mnuchin on Offshore Hedge Fund Tax Shelters He Created

Menendez Presses Treasury Nom Mnuchin on Offshore Hedge Fund Tax Shelters He Created

Menendez to Mnuchin: ‘Let me make the complication simple. One does not create offshore entities other than to avoid the tax laws of the United States. That’s pretty simple.’


WASHINGTON, DC – U.S. Senator Bob Menendez, senior member of the Senate Finance Committee, today grilled President-Elect Trump’s nominee for Secretary of the Treasury, Steven Mnuchin, repeatedly asking him if his offshore business holdings were created in order to avoid paying U.S. taxes. 

Mnuchin responded to the senator’s questions by saying the issue was complicated, to which Menendez said: “Let me make the complication simple. One does not create offshore entities other than to avoid the tax laws of the United States.  That’s pretty simple.”

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