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Liz Warren is already very angry at Trump's next move - here's why

Sen. Elizabeth Warren (D-Mass.) objected greatly to a report that the Trump administration was considering unilaterally granting a large tax cut by redefining capital gains. (Image Source: YouTube screenshot)

A report that said President Donald Trump is considering another tax cut angered Sen. Elizabeth Warren (D.-Mass.), who tweeted her objection Monday.

Here's what she said

[President Trump] wants to go around Congress & hand $100 billion to his rich buddies on top of $1.5 trillion he gave away to billionaires & big corporations last year," Warren tweeted.

"DC works great if you’re rich & powerful," she added. "How about a gov't that works for everyone?"

Warren linked to a report from the New York Times that the new tax cut would come from a redefinition of how capital gains are calculated.

The report comes from comments made by Treasury Secretary Steve Mnuchin at an economic meeting in Argentina. Mnuchin said that the administration was looking at instituting the tax cut through legislation but was considering other prospects as well.

“If it can’t get done through a legislation process, we will look at what tools at Treasury we have to do it on our own and we’ll consider that,” Mnuchin said. “We are studying that internally, and we are also studying the economic costs and the impact on growth.”

The report made it clear that the administration had not concluded if it was within the power of the Treasury to unilaterally make the change.

'An outrage'

Warren clearly objected to the possibility that Trump might attempt to "go around Congress" in order to let Americans keep more of their wealth.

Senate Minority Leader Chuck Schumer (D-N.Y.) also objected strenuously to the report.

“At a time when the deficit is out of control," Schumer said, "wages are flat and the wealthiest are doing better than ever, to give the top 1 percent another advantage is an outrage and shows the Republicans’ true colors."

“Furthermore, Mr. Mnuchin thinks he can do it on his own," he added, "but everyone knows this must be done by legislation.”

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