President Donald trump said that he expects to release his plan for a tax overhaul on “Wednesday or shortly thereafter” in an interview with the Associated Press on Wednesday.
Trump told the AP that the plan would include a “massive” tax cut for corporations and businesses.
During the campaign, Trump said that he would cut the federal corporate tax rate to 15% from its current 35% level.
In response to the news, stocks popped with the Dow Jones industrial average jumping a little over 30 points from 20,541 to 20,572 as of 2:07 p.m. ET.
This story is developing…
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