US Treasury Secretary Steven Mnuchin has said that President Donald Trump’s tax reform plan to be announced next week would lead to some “short term” budget issues.
On Friday, the president said that he would unveil his plan on Wednesday to fulfil the promise he had made in the run-up to the 2016 presidential election.
“Big TAX REFORM AND TAX REDUCTION will be announced next Wednesday,” the president announced in a tweet.
During an interview by International Monetary Fund Managing Director Christine Lagarde on Saturday, Mnuchin said, “We’re looking for reforms that will pay for themselves with growth.”
“Under dynamic scoring, this will pay for itself, under static scoring, there’ll be short term issues,” he noted.
He went on to say that “the tax code is way, way, way too complicated. We want to create a system where the average American can file a tax code on a big postcard.”
He also said that Washington believes in “free and fair”…