MIAMI (CBSMiami) — As President Donald Trump approaches the 100 day mark of his presidency, the White House announced details of a major issue the president campaigned on – taxes.
Treasury Secretary Steve Mnuchin announced the White House’s plan to reform the tax code Wednesday afternoon.
“The president’s objective is creating economic growth,” said Mnuchin.
The proposal would cut the corporate tax rate from 35 percent down to 15 percent.
Wednesday’s announcement is just an outline – the White House will present the final plans by August since they’re still figuring out how to pay for the cuts without adding to the deficit.
“It’s a great plan. It’s going to put people back to work,” said President Trump on Wednesday.
Secretary Mnuchin has been meeting with House and Senate Republican leaders and all sides are hopeful the proposal can pass.
“We’ve been briefed on what they’re going to do and it’s basically along the same lines that we want to go,” said Speaker of the House Rep. Paul Ryan (R-WI).
The move comes as the latest CBS News Poll shows 41 percent approve of the president’s job performance. That’s the lowest rating of a U.S. president at the 100 day mark in the 40 year history of the CBS News poll.
CBS News polling Director Anthony Salvanto says partisanship is the reason for President Trump’s low approval ratings. About 83 percent of Republicans approve of the president with just 10 percent of Democrats agreeing.