FINANCE

Mnuchin, White House team to meet McConnell, Ryan on tax reform

On 'Your World,' the treasury secretary discusses the infrastructure plan, defense budget, ObamaCare, tax cut plan

 

Treasury Secretary Steve Mnuchin and other top White House officials will go to Capitol Hill on Tuesday to discuss President Trump’s proposed tax reform plan, ahead of the president’s scheduled announcement Wednesday of the proposal, Fox News has learned.

The meeting is scheduled to take place in the office of Senate Majority Leader Mitch McConnell, R-Ky.

Mnuchin said Monday at the daily White House press briefing that Trump’s plan will include tax cuts for “middle-income” Americans and will simplify the U.S. tax code.

“The average American should be able to do his taxes on a large post card,” he told reporters.

White House budget director Mick Mulvaney told “Fox News Sunday” that Trump will announce only a draft plan -- with proposed tax rates and no information about whether cuts would increase the debt. He also said a final plan is tentatively scheduled to be released in June.

Others scheduled to attend the Capitol Hill meeting include Gary Cohn, chief of the White House Council of Economic Advisers; House Speaker Paul Ryan, R-Wis.; Senate Finance Committee Chairman Orrin Hatch, R-Utah; and House Ways and Means Committee Chairman Kevin Brady, R-Texas, Fox has also learned.

However, it remains unclear whether any congressional Democrats have been invited.

Fox News’ Chad Pergram and Joseph Weber contributed to this report.