Eric Thayer/Getty Images hide caption But what's coming out later Wednesday afternoon are guidelines, not legislation, akin to what would be revealed in a campaign.
Though there's no sign Congress is ready to take this up immediately, Mnuchin made it sound urgent, saying the administration wants to move "as fast as we can." —Small businesses would benefit: It would include companies that don't pay through the corporate tax code, but for private businesses that pay through the income tax code (39.6 percent at the top).
It could mean doing away with popular deductions like the home mortgage deduction, something that back in December Mnuchin said Trump's plan would scale back.
An import tax would mean a lot of things Americans buy at grocery and retail stores would go up.
"We continue to have productive discussions with the administration about all ideas on the table." In other words, that's a nice way of saying this is at the infant stages.