Treasury Secretary Steven Mnuchin said Thursday that details regarding the Trump administration's tax package will emerge sometime in late September, and that he hopes the process is finalized by the end of the year.
While speaking with CNBC on Thursday, Mnuchin said the administration has a "very detailed" plan focused on creating jobs, making businesses more competitive, bringing back trillions of dollars to reinvest domestically and to cut taxes for the middle class.
The Secretary also affirmed that the ideal corporate tax rate remains 15%, as it has been stated since the start of the presidential campaign. Although Mnuchin would not commit to that figure, he did affirm that the objective is to generate a competitive business rate.
He added that "under our models, we are absolutely committed to revenue neutrality." But, said that this is one area of debate and subject to change.
The administration will work towards finalizing the comprehensive plan and submit it to Congress by the end of the September, with the hopes to have it on President Trump's desk by year end, Mnuchin stated.
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