The daily business briefing: February 27, 2017

Treasury secretary says Trump's budget will boost economy, Buffett says stocks aren't in "bubble territory," and more

Warren Buffett speaks in New York City
(Image credit: Dimitrios Kambouris/Getty Images)

1. Treasury secretary says Trump budget won't touch entitlement programs

Treasury Secretary Steven Mnuchin said in a Fox News interview released on Sunday that President Trump's budget will focus on cutting taxes to boost economic growth, leaving alone entitlement programs such as Social Security and Medicare. "We are not touching those now," Mnuchin said. The administration aims to lift economic growth by 3 percent through a mix of tax and regulation cuts, and Mnuchin said that President Trump would address tax reform in his speech to a joint session of Congress on Tuesday. "This is all about creating growth," he said. Trump also reportedly plans to ask for a sharp increase in military spending.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.