Treasury Secretary Steven Mnuchin Says White House Will Unveil ‘Biggest Tax Cut’ in History

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.

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SOURCE: NBC News, Andrew Rafferty