The U.S. Economy Needs President Trump's Tax Reforms

In his speech this week to a joint session of Congress, President Trump promised Americans his economic team is putting together “historic tax reform” that “will reduce the tax rate on our companies so they can compete and thrive anywhere and with anyone" and "will provide massive tax relief for the middle class.” Treasury Secretary Steven Mnuchin elaborated further in a statement released after the speech, stating, “We must simplify the tax code, reduce business tax rates, and make America competitive in the global economy.”