Trump eyes changes to Obama's tax and Wall Street rules

U.S. President Donald Trump holds a joint news conference in Washington U.S

U.S. President Donald Trump holds a joint news conference in Washington U.S

In an hour long interview with the Associated Press, the President also hyped his own tax reform announcement for next week, saying the tax cuts he will propose would be "massive".

With a little more than a week before Trump crosses the 100-day mark, there are few details about the Trump tax cut plan - although Mnuchin has said it would be "sweeping".

He then turned to Treasury Secretary Steven Mnuchin and said: "So, go to it". Mnuchin and other administration officials now hope lawmakers can send them a package before the end of the year.

An op-ed for The New York Times, co-authored by anti-tax activist, publisher and two-time Republican presidential nominee Steve Forbes, plus fellow members of his Committee to Unleash Prosperity - which advised the Trump Campaign -- bemoans that: "Unfortunately, the White House seems all over the map on the subject".

Asked if that would include rules against tax-driven foreign corporate deals known as inversions, Mnuchin said: "It's one of the significant things and one of the things we would be looking at".

Mnuchin declined to specify when the administration's plan for tax reform will be unveiled, but said it would be coming "soon" and Trump teased a "big announcement" Wednesday.

Trump walked down street across the White House to the Treasury Department to sign the executive orders which he said is part of his effort to revive the American economy and bring jobs back to the US.

Even though Graham contends that Trump should not feel under any obligation to reveal his taxes, White House Press Secretary Sean Spicer has frequently told the news media that the president's 2016 tax returns are being audited. He said there was "no impression" in the meeting that the Trump administration's plans to ease Dodd-Frank banking rules would spark a "regulatory race to the bottom".

Americans for Tax Reform President Grover Norquist said this week that he's confident that tax reform will be passed despite recent delays.

Tax reform was one of Trump's major election promises.

U.S. President Donald Trump has ordered a full review of the powers given to government regulators to oversee the banking and finance industries following the financial meltdown of 2008.

At the signing ceremony, Trump hinted at forthcoming details regarding his administration's plans for overhauling the USA tax code. According to MSNBC, both House Speaker Paul Ryan and Mick Mulvaney, the head of the Congressional Budget Office, have previously stated their opposition to the idea that tax cuts produce enough growth to pay for themselves.

Inversions involve USA firms that move their legal address overseas to cut their tax bills through mergers with foreign companies.

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