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Mnuchin says tax refunds are at about same level as last year

Treasury Secretary Steven Mnuchin said tax refunds are now at about the same level as they were last year, telling CNBC in an interview that they’re up 17% week-over-week. The administration has taken heat as tax refunds had been lower compared with last year, with the average refund down 17% in the latest week. Mnuchin didn’t say whether he was talking about average or aggregate refunds. Speaking from London, Mnuchin also echoed his Trump administration colleague Larry Kudlow on China trade, telling the network that there was “a lot of progress” on a deal between Washington and Beijing but that an agreement wasn’t final.

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