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Steve Bannon reportedly says tax reform probably won't pass until next year

Key Points
  • Former White House advisor Steve Bannon casts doubt on the Trump administration's tax reform deadline, according to The Wall Street Journal.
  • The White House wants to pass a tax overhaul by the end of the year.
Steve Bannon
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Ousted top White House aide Steve Bannon cast doubts Tuesday on the prospects of tax reform getting done soon, The Wall Street Journal reported.

Speaking to money managers in Hong Kong, the former chief strategist to President Donald Trump said he doesn't expect any change in U.S. tax law for at least the next three months and even this year, according to the newspaper.

Just Tuesday morning, Treasury Secretary Steven Mnuchin reiterated the administration's goal to overhaul the American tax system by the end of this year.

"We're going to get this done by the end of the year," the Treasury secretary said, adding that the administration is "super focused" on the goal following the three-month debt limit and government funding extension passed last week.

Many observers have said that the administration's deadline appears optimistic for tax reform due to the complex nature of the tax code and the competing interests of lawmakers.

Bannon, a firebrand who advocated for protectionist trade policies and stricter limits on immigration, left the White House last month. He rejoined Breitbart News, the right-wing news website that he previously chaired.

Bannon also made waves in a recent interview with CBS.

Read the full Journal report here.