TRUMP TREASURY SECRETARY: 'Our first priority is tax cuts'

Steven Mnuchin, the newly appointed nominee for Treasury Secretary for President-elect Donald Trump, said the top priority of the new Trump administration would be to cut taxes.

"Our first priority is to cut taxes," said Mnuchin in an interview with CNBC's Squawk Box. "We want to cut the corporate taxes, which will bring back growth."

Mnuchin said that their plan is to cut the corporate tax rate to 15% from its current 35% level.

The new Treasury Secretary also said that he believes the reforms from the new administration will bring "sustained 3 to 4% GDP growth."

More to come...