McConnell, Sec. of Treasury Mnuchin to visit Ft. Knox; McConnell promises to raise debt ceiling

08/21/2017 04:27 PM

LOUISVILLE — For just the third time in history a U.S. Treasury Secretary will step foot inside Fort Knox and check on around $200 billion in gold bullion stashed there.

U.S. Treasury Secretary Steven Mnuchin told members of Greater Louisville Inc. about the planned visit during prepared remarks on Monday afternoon in Louisville. Mnuchin was planning on visiting the bullion with U.S. Senate Majority Leader Mitch McConnell, R-Kentucky, after his stop at GLI at the Olmstead.

Mnuchin said he would be visiting the site in Kentucky in part to personally attest that the gold is part of the national assets. The last time any officials checked on the gold was in 1974, Mnuchin said.

“It is going to be very exciting, and I assume the gold is still there — it would be quite a movie if we walked in and there was no gold,” he said.

When Congress returns in September, McConnell said that the key objective was putting together a comprehensive tax reform plan. Mnuchin has been taking part in meetings between lawmakers on the issue and he advocated for a simpler tax code on Monday.

One key item Mnuchin wants addressed by Congress upon their return is raising the debt limit.

During the event McConnell promised that Congress would send a “clean” raise to the debt limit.

“There is zero chance — no chance — we will not raise the debt ceiling,” McConnell said.

In a more lighthearted question, McConnell was asked by a GLI member where he consumed his news in an era defined by accusations of “fake news.”

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