Politics

Treasury's Mnuchin and White House's Cohn talk Trump tax plan

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Cohn: Trying to change health care, taxes, infrastructure
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Cohn: Tax proposal will include both individual and corporate
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Cohn: Privatizing some infrastructure makes sense
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Cohn: Cheap energy is a competitive advantage
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Cohn: Administration wants free, open, fair trade

Treasury Secretary Steven Mnuchin and White House chief economic advisor Gary Cohn outlined President Donald Trump's tax plan Wednesday afternoon.

At a White House briefing, the pair talked about the proposal that Mnuchin contended would be the "biggest tax cut" in U.S. history.

Some of the highlights included:

  • Reducing the top tax bracket to 35 percent
  • Doubling the standard deduction
  • Lowering the business tax rate to 15 percent
  • Repealing the AMT

Read more about the full plan here: The White House just outlined its tax plan. Here's what's in it

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Mnuchin: This plan will lower debt-to-GDP