After much anticipation and fanfare, the Trump administration will unveil its tax reform proposal Wednesday as the President’s 100-day benchmark rapidly approaches.
Gary Cohn, chairman of the Council of the Economic Advisers, and Treasury Secretary Steve Mnuchin will reveal the individual and corporate tax proposals.
The plan will reportedly cut the corporate income tax rate from 35% to 15%, Reuters reported. Mnuchin said this would be the largest tax cut and reform proposal in the country’s history at an earlier event Wednesday morning in Washington D.C.
On April 22, the President previewed the reform, tweeting “Big TAX REFORM AND TAX REDUCTION will be announced next Wednesday.”
Big TAX REFORM AND TAX REDUCTION will be announced next Wednesday.
— Donald J. Trump (@realDonaldTrump) April 22, 2017
The White House proposal, however, will still have to be approved by Congress before it becomes legislation.
The announcement begins at 1:30 P.M E.T. Watch it in the video above.