Trump's tax plan announcement - Live stream
|U.S. Secretary of the Treasury Steven Mnuchin and National Economic Director Gary Cohn will be giving a joint press briefing at 17:30 GMT, at which they are expected to reveal details of Trump's tax reform as the president nears the end of his first 100 days in the office.
Who is Steven Mnuchin?
After he graduated from Yale University in 1985, Mnuchin worked for investment bank Goldman Sachs for 17 years, eventually becoming its Chief Information Officer. After he left Goldman Sachs in 2002, he worked for and founded several hedge funds. During the financial crisis of 2007–2008, Mnuchin bought failed residential lender IndyMac. He changed the name to OneWest Bank and rebuilt the bank, then sold it to CIT Group in 2015. Mnuchin joined Trump's presidential campaign in 2016 and was named national finance chairman for the campaign. On February 13, 2017, Mnuchin was confirmed by a 53–47 vote in the U.S. Senate.
Latest updates:
Trump's tax plan: Proposes reducing number of U.S. tax brackets to 3 from 7
Trump's tax plan: Proposes 15% business tax rate
Cohn: Trump plan will repeal so-called death tax on estates
U.S. Treasury's Mnuchin: Small and medium sized business also will be eligible for the 15% tax rate
U.S. Treasury's Mnuchin: Trump has no intention to release his own taxes
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