UNVEILED: PRESIDENT TRUMP'S NEW TAX PLAN

posted by The INSIDER - 

President Donald Trump's administration has rolled out a tax plan that proposes to slash corporate taxes, tweak personal tax rates, and eliminate most deductions used by wealthier Americans.

The plan was announced on Wednesday by Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn during a White House press briefing.

While the plan contains broad outlines rather than firm legislative text, Mnuchin and Cohn said the plan would include "the biggest tax cut" in US history, echoing statements made by Trump.

While Mnuchin did not apply a deadline to passing a tax plan, he told an event hosted by The Hill earlier on Wednesday that the White House and congressional leaders wanted to pass a bill "as quickly as possible." Mnuchin and Cohn said they would continue to be in constant conversation with congressional leaders to formulate concrete legislation.

Read the full story at BusinessInsider.com


Watch the video below of the announcement on the plan made earlier Wednesday by Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn during a White House press briefing.

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