Trump Vows to Unveil Tax-Cut Plan Next Week, Surprising Staff -
By ALAN RAPPEPORT and MICHAEL D. SHEARAPRIL 21, 2017
WASHINGTON — President Trump promised on Friday that he would unveil a “massive” tax cut for Americans next week, vowing a “big announcement on Wednesday,”
but he revealed no details about what is certain to be an enormously complicated effort to overhaul the nation’s tax code.
But despite Mr. Trump’s statement on Friday that his tax overhaul “really formally begins on Wednesday,” White House officials quickly cautioned against high expectations
that Mr. Trump would provide the legislative text of a detailed tax plan next week.
Mr. Trump told The Associated Press in the interview
that his tax reductions would be “bigger, I believe, than any tax cut ever.” But he faces an enormous fight among clashing vested interests as Congress tries to rewrite the tax code.
Instead, a senior administration official said the president would release only the “parameters”
that Mr. Trump expected a tax plan to follow in the long congressional debate that would surely follow.
Mr. Mnuchin insisted that would not be the case and argued the tax overhaul legislation plan
that they would propose will address the problem of companies moving overseas.
His announcement surprised Capitol Hill and left Mr. Trump’s own Treasury officials speechless as he arrived
at the Treasury offices to sign directives to roll back Obama-era tax rules and financial regulations.
