President Trump told the AP that he will unveil a tax plan next week that includes a "massive" tax cut for individuals and businesses.
Trump said the plan will be released on Wednesday or "shortly thereafter" and the tax cuts will be "bigger I believe than any tax cut ever."
The President declined to comment on the specifics of the plan.
"Some of the lowering in (tax) rates is going to be offset by less deductions and simpler taxes," Treasury Secretary Steven Mnuchin said yesterday. "But the majority of it will be made up by what we believe is fundamentally growth and dynamic scoring."
(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)