Trump: I Will Release Plan With ‘Massive’ Tax Cuts Next Week

President Donald Trump
• April 21, 2017 2:42 pm


President Donald Trump told the Associated Press on Friday that he will release a tax reform package next week that will include "massive" tax cuts for businesses and individuals.

Trump did not get into details, but he did say the cuts in his plan would likely be the biggest ever, according to the AP.

In an interview with the Associated Press, Trump says the plan will result in tax cuts for both individuals and businesses. He would not provide details of the plan, saying only that the tax cuts will be "bigger I believe than any tax cut ever."

The president says the package will be released on "Wednesday or shortly thereafter"–just before his 100 day mark in office.

Treasury Secretary Steven Mnuchin initially set a goal of getting tax reform passed by August, but that deadline has slipped. Mnuchin now says the administration still hoped to get a bill passed well before the end of the year.

In an address to Congress in February, Trump said his team was working on "big, big" tax cuts for Americans and American companies.

"My economic team is developing historic tax reform that will reduce the tax rate on our companies so they can compete and thrive anywhere and with anyone," Trump said. "It will be a big, big cut. At the same time, we will provide massive tax relief for the middle class."

Published under: Donald Trump, Tax Reform, Taxes