Mulvaney: ‘Guidance’ on Trump’s Tax Plan, Not Details, Coming on Wednesday

By Susan Jones | April 24, 2017 | 8:54am EDT
Mick Mulvaney is director of the White House Office on Management and Budget. (Screen grab from "Fox News Sunday.")

(CNSNews.com) - President Trump has promised a “big announcement” on Wednesday regarding tax reform.

“Big TAX REFORM AND TAX REDUCTION will be announced next Wednesday,” the president tweeted on Saturday.

On Sunday, White House Budget Director Mick Mulvaney told Fox News the administration will issue “governing principles,” but not proposed legislation:

I think what you're going to see on Wednesday is some specific governing principles, some guidance. Also some indication of what the rates are going to be.

I don't think you're going to see something and I don't think anybody expects us to roll out bill language on Wednesday. In fact, we don't want to do that.

So, what you're going to see on Wednesday is, for the first time is, here's what our principles are, here are some of the ideas that we like, some of the ideas we don't like and we can talk about that more if you want to. Here are some of the rates we're talking about.

Chris Wallace, the host of “Fox News Sunday,” asked Mulvaney if the administration will explain how the tax cuts may or may not add to the deficit:

“I don't think we've decided that part yet,” Mulvaney responded. “Keep in mind, we have -- it's a balancing act in that, Chris. You can either have a small tax cut that's permanent or a large tax cut that is short-term. I don't think we decided that. But you'll know more on Wednesday.”

Mulvaney said it’s “probably fair” to say that details of Trump’s tax plan will come in early June.

“Again, we want to start working and have already started working with the committees in the House and the Senate as we try and build some momentum for this tax plan.”

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