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Financial Planning > Tax Planning

Trump’s Tax Plans Coming Next Week, White House Official Says

By Margaret Talev

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President Donald Trump will release a tax plan for individuals and businesses in the latter part of next week, according to a senior White House official.

Trump had said on Feb. 9 that he would be releasing a “phenomenal” tax plan to overhaul the tax code within two to three weeks. 

The word that he’ll release a plan next week comes as he approaches the end of his first 100 days in office on April 29.

Treasury Secretary Steven Mnuchin along with top economic adviser Gary Cohn reiterated at a financial conference Thursday that the Trump administration would produce an ambitious plan to overhaul the U.S. tax code “soon.”

But the Senate Finance Committee has yet to see final details of a White House plan, a congressional aide said Thursday. 

And tax-related challenges presented by the 2010 Affordable Care Act remain in place amid Republicans’ disagreement on how to dismantle the health-care law they’ve criticized for years.

The White House official, who asked not be named because the details are private, declined to provide further comment on what the tax plan would entail. 

The Associated Press reported Friday that Trump said the plan will result in tax cuts for both individuals and businesses.

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