Trump to sign orders aimed at reducing tax burdens

Politics 4/21/2017, 5:55 AM
Trump to sign orders aimed at reducing  tax burdens

US President Donald Trump will sign three documents on Friday with an aim to find and reduce tax and regulatory burdens, White House officials said late on Thursday.

The executive order instructs the Treasury Secretary Steven Mnuchin to go over significant tax regulations issued in 2016 to determine if any of them impose an undue financial burden on taxpayers or add complexity to the tax code.

Mnuchin said earlier on Thursday that Treasury is working on tax reform "day and night" and will soon create a sweeping overhaul.

 The two documents ask Mnuchin to review parts of the Dodd-Frank law enacted by the previous administration in response to the financial crisis of 2008. These include a measure that prevents US companies from avoiding taxes by shifting operations overseas, which could be rolled back after the review.

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