Stocks Jump As Trump Promises Plan For "Biggest Tax Cut Ever" Next Week (Again)

Posted April 21, 2017 1:58 pm by Comments

By Tyler Durden

It’s deja vu all over again…

*TRUMP SAYS HE WILL UNVEIL TAX PLAN NEXT WK: AP
*TRUMP SAYS PLAN TO INCLUDE `MASSIVE’ CUT FOR COS., INDIVIDUALS

And the machines fell for it…

 
As AP reports, President Donald Trump says businesses and individuals will receive a “massive tax cut” under a tax reform package he plans to unveil next week.
In an interview with The Associated Press, Trump says the plan will result in tax cuts for both individuals and businesses. He would not provide details of the plan, saying only that the tax cuts will be “bigger I believe than any tax cut ever.”
 
[which will be impressive compared to Reagan’s 35ppt cut…]
 

 
The president says the package will be released on “Wednesday or shortly thereafter” — just before his 100 day mark in office.
 
Treasury Secretary Steven Mnuchin initially set a goal of getting tax reform passed by August, but that deadline has slipped. Mnuchin now says the administration still hoped to get a bill passed well before the end of the year.

The dollar and bond yields are moving higher also…

Source: ZeroHedge

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