In an August 30 interview with The Wall Street Journal Treasury Secretary Steven Mnuchin discussed upcoming tax reform efforts. According to Mnuchin, the Trump administration and top Republican lawmakers expect to release a detailed tax reform plan sometime in the next few weeks.
Detailed Reform Plan
The White House and top GOP lawmakers are expected to first release a three-to-five-page tax reform outline in early- to mid-September. The tax reform legislation will be crafted by taxwriters in the Senate Finance and House Ways and Means Committees. However, the Trump administration will stay actively involved throughout the process of tax reform. “In no way are we just turning this over to Congress,” he said.
Also on August 30, President Trump said he does not want to be disappointed by Congress on tax reform. Trump has recently expressed criticisms of Congress after the GOP controlled Congress failed to repeal and replace the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148 ). “I think Congress is going to make a comeback…I hope so,” Trump said.
By Jessica Jeane, Wolters Kluwer News Staff