An economic adviser to President-elect Donald Trump said Tuesday that the transition team was working on plans for a tax code overhaul that would be “the biggest tax changes since Reagan.”
Steven Mnuchin, a former Goldman Sachs banker who is considered a leading candidate for Treasury secretary in the Trump administration, told reporters at Trump Tower in New York that the team was hard at work on an economic plan.
“We’re working on the economic plan with the transition, making sure we get the biggest tax bill passed, the biggest tax changes since Reagan, so a lot of exciting things in the first 100 days of the Trump presidency,” Mr. Mnuchin said, according to a pool report.
President Ronald Reagan executed one of the largest reductions of tax rates in U.S. history that is credited, in part, with a rapid economic expansion in the 1980s.
During the campaign, Mr. Trump proposed large tax cuts for individuals and businesses that he said would spur economic growth.
Mr. Mnuchin declined to comment on whether he had been offered a job in the administration.