President Trump's new tax package won't be unveiled until next week, but he offered a little sneak preview Friday of just how huge the tax cuts will be. In an interview with The Associated Press published Friday, Trump said his tax reform plan will offer businesses and individuals "a massive tax cut," which he claimed would be "bigger I believe than any tax cut ever."
Trump said to expect his proposal on "Wednesday or shortly therafter." Treasury Secretary Steven Mnuchin had originally planned to pass tax reform by August, but now he hopes to get it through Congress by the end of 2017.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Quiz of The Week: 16 – 22 AugustQuiz Have you been paying attention to The Week's news?
-
Can Soho House get its edge back?Talking Point The private members' club has lost its exclusive appeal – but a £2 billion buy-out could offer a fresh start
-
The week's best photosIn Pictures A human pyramid, a church on wheels, and more
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
