On Friday, President Trump promised that the administration will announce a plan for tax reform next Wednesday. He promised that it will include significant tax cuts. "We'll be having a big announcement on Wednesday having to do with tax reform," Trump said after signing an executive order at the Treasury Department. "The process has begun long ago, but it really formally begins on Wednesday."
Trump told the Associated Press earlier on Friday that the tax reform proposal will be a "massive" tax cut, "bigger I believe than any tax cut ever." He has suggested in the past that the administration would release a tax plan shortly, only to see time slip by without a reform offered.
Trump’s top advisers, however, have recently said that the tax cut plan is ready to go. On Thursday, Secretary of the Treasury Steven Mnuchin vowed that a plan is coming "very soon." He added, that it will be a comprehensive plan and destined to unite Republicans in the House and Senate. The tax rate reductions, he said, will pay for themselves through faster economic growth.