President Trump is starting over with his tax plan, The Associated Press reported on Monday, getting rid of the proposal used during his campaign.
White House officials told the news service that the new proposal will likely not come before Treasury Secretary Steven Mnuchin’s August goal.
Trump wants to cut taxes to help rural and industrialized parts of the country where his supporters live, administration officials said.
So far, Trump has not signed on to a plan put forward by House Ways and Means Committee Chairman Kevin BradyKevin Patrick BradyEconomic growth rate slows to 2 percent as delta derails recovery Democratic retirements could make a tough midterm year even worse Yellen confident of minimum global corporate tax passage in Congress MORE (R-Texas). Brady’s plan would include a border-adjustment tax.
A separate plan currently making the rounds on Capitol Hill would slash corporate tax rates while getting rid of a considerable portion of the payroll tax.