Treasury Secretary Steven Mnuchin said on Friday that he will push for "comprehensive" tax reform by Congress' August recess, according to Reuters.
During an Axios event in Washington, D.C., the Treasury secretary said that President Donald Trump's objective for tax reform is a tax cut for the middle class, not the top one percent.
Mnuchin said the tax plan will be comprehensive, including both personal and corporate tax reform.
He added that the corporate tax rate "has to be competitive," and that he believes hedge funds should be taxed.
Regarding the upcoming health-care vote, Mnuchin said he was optimistic the bill would pass.
"I'm optimistic it's going to pass," he said. "First of all health care and tax reform are two very different things. What I would say health care is a very very complicated issue."
The Treasury secretary said on Friday that he believes that Trump's economic policies can produce more growth in the U.S. economy, which is not fully reflected in financial markets.