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Home>UPDATE: Trump Today: Tax cut will be 'giant, beautiful,' president tells manufacturers

UPDATE: Trump Today: Tax cut will be 'giant, beautiful,' president tells manufacturers

UPDATE: Trump Today: Tax cut will be 'giant, beautiful,' president tells manufacturers

09/30/2017

By Robert Schroeder, MarketWatch

Trump says he'll make decision on new Fed chairman in two to three weeks

President Donald Trump told manufacturers on Friday he's pushing a "giant, beautiful, massive" tax cut, said he'll decide on a Fed chairman in two to three weeks, and said he'll soon make a decision about whether embattled Health and Human Services Secretary Tom Price stays in the cabinet.

TOUTING THE TAX PLAN

Speaking to the National Association of Manufacturers, Trump pitched the tax plan unveiled by his administration and GOP leaders this week. "We want companies to hire and grow in America, to raise wages for American workers, and to help rebuild American cities and towns. When we grow American manufacturing, we don't only grow our jobs and wages, but we also grow America's spirit," the president said.

He touted the major points of the plan including a 20% corporate tax rate and a 25% rate for partnerships. But while Trump and Republican leaders have been emphasizing these features of the plan, there's still much that's unknown about it, including the income levels to which three new individual tax brackets would apply.

Opinion: What we know and don't know about Trump's tax plan (http://www.marketwatch.com/story/what-we-know-and-dont-know-about-trumps-tax-plan-2017-09-29).

Also read: Here's how much you can expect to gain from Trump's tax plan (http://www.marketwatch.com/story/in-one-chart-heres-how-much-you-can-expect-to-gain-from-trumps-tax-plan-2017-09-29).

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