Word of a revamped tax plan for businesses and individuals may come as the end of POTUS Trump’s 100 days in office approaches.
According to a senior White House official, President Donald Trump will be releasing a “phenomenal” tax plan for both individuals and businesses by the end of next week.
This statement has been confirmed by Secretary of the Treasury (plays a critical role in economic and fiscal policy-making) Steven Mnuchin and economic advisor Gary Cohn, who stated earlier that the revised tax code would be released “soon.”
The Senate Finance Committee (a federal committee overseeing taxation, revenue, and monetary collections), however, still has not seen details of the new tax plan. There may also be some constraints due to the 2010 Affordable Care Act, a legislation that aims to provide comprehensive healthcare for the U.S. population.