Trump Weighs Acting Unilaterally To Institute Massive Tax Cut For The Wealthy: Report

President Trump is considering using his power to unilaterally give wealthy Americans a $100 billion tax cut if the GOP-led Congress is unable to approve the move through legislation, according to a report in The New York Times.

The Times reported that Treasury Secretary Steve Mnuchin at a recent G-20 meeting in Argentina said if the massive tax cut can’t be passed by Congress, the administration will “look at what tools” are necessary to consider the move.

“If it can’t get done through a legislation process, we will look at what tools at Treasury we have to do it on our own and we’ll consider that,” Mnuchin said. “We are studying that internally, and we are also studying the economic costs and the impact on growth.”