Treasury Secretary Steven Mnuchin on Wednesday called the forthcoming Trump administration tax reform plan “the biggest tax cut” in history, confirming reports that the proposal will call for a cut in the corporate tax rate to take it down to 15 percent.
Mnuchin delivered a broad outline of the plan during an interview with The Hill, but said Congress and the White House are on the same page when it comes to passing a sweeping overhaul of the nation’s tax system.
The 15 percent corporate tax rate would be a drastic cut from current rate. The changes would provide relief to both small businesses and large corporations, like President Donald Trump’s real estate firms.
Click here to read more.
SOURCE: NBC News, Andrew Rafferty