Remember all that talk about ‘Reaganesque’ tax cuts on the campaign trail? Well, brace yourselves!
This is what we’ve been waiting for!
Treasury Secretary Steve Mnuchin said that the Trump Administration is working on the ‘biggest tax cut in American history’, and planning on sweeping changes rather than piece by piece.
Watch Treasury Secretary Steve Mnuchin on Fox News with Neil Cavuto:
“This is going to be the biggest tax cut and the largest tax reform in the history of our country,” Mnuchin said, as administration officials prepare to outline Wednesday afternoon what he described as “principles” of their tax plan.
Mnuchin, speaking at a Washington forum, would not reveal many specifics but confirmed that they want to lower the business rate to 15 percent.
“I will confirm that the business tax is going to be 15 percent,” he said. “[Trump] thinks that’s absolutely critical to drive growth.”…
…After holding a briefing with congressional lawmakers Tuesday night, Mnuchin and top White House economic adviser Gary Cohn are set to brief the media later Wednesday on tax plan details.
Mnuchin said Wednesday morning that the House, Senate and administration are all “on the same page” and called tax reform a “major priority.”
The administration also is looking at a big increase in the standard deduction.
The current standard deduction would rise from $6,300 to $12,600 for individuals under the proposal. For married couples filing jointly, it would rise from $12,600 to roughly $24,000
The top individual tax rate would slip to 37 percent, from over 39 percent.
Read more: Fox News
And you thought the Economy was picking up before…
Investor confidence was up before these tax cuts were announced.
The economy is going to boom!
With these new tax reforms, President Trump will oversee a resurgence in American prosperity.
More and more winning…