Treasury Secretary Steven Mnuchin said Thursday that he wants to see "very significant" tax reform passed before Congress' August recess, in what could prove a tough task as lawmakers work through a complex agenda.
"We want to get this done by the August recess. We've been working closely with the leadership in the House and the Senate and we're looking at a combined plan," he told CNBC in his first television interview since assuming office.
President Donald Trump has repeatedly made pledges for tax reform and regulatory cuts since he took office, creating optimism among business executives and investors.
So far, Trump's plan is unclear. He has promised to detail a tax plan in the coming weeks, without saying much about whether it is a version of his proposal outlined during the campaign or if it will resemble House Republicans' plan. The U.S. Senate has presented no proposal at all.
Congress is expected to introduce legislation next month to at least partially repeal the Affordable Care Act — Obamacare — before it moves on to tax reform. Mnuchin said the White House and both chambers of Congress "are all working together" on the tax plan.