His administration is pushing for a simpler tax code and lower rates, but it has said it will leave the details of the proposal to Congress.
President Donald Trump kicked off his tax reform push on Wednesday with a speech in Springfield, Missouri, advocating for a massive tax cut while imploring Congress to follow through. It will, though, make the case that tax code changes, particularly the corporate rate, are necessary for improved economic conditions.
He will speak at the Loren Cook Company, which designs and produces fans and similar equipment, in Springfield, the so-called birthplace of Route 66, which the official said is emblematic of Main Street America.
Pascrell also floated the possibility that Trump's global business empire might benefit from his tax plan, though no one can know "until the President releases his tax returns" - a step Trump has refused to take.
There is broad agreement that the United States tax code - which runs thousands of pages - needs to be simplified.
"When you hear the president talking about ending the rigged system, I think another way to phrase that is restoring a fundamental American precept, which is fairness", said another White House aide, also speaking on condition of anonymity. "There aren't going to be policy-specific details within it", the official said.
Reiterating a campaign theme, Trump will say in his speech, scheduled for 2:30 p.m. EDT (1830 GMT), that the US economy is "rigged" to favor the privileged few and urge closing loopholes for the wealthy and special interests to help "Main Street". Trump will deliver remarks on tax reform today in Springfield. Whitey Taylor says he has sold his Trump apparel at 54 of the president's rallies.
Perhaps the most important question about the Trump tax plan for low- and middle-income Americans is who will pay for the tax cuts for high-income people and corporations.
Republicans quickly embraced Trump's pitch, vowing to work with the president to get a tax rewrite to his desk.
"Anybody I forget?" Trump said, before moving on with his speech.
Republicans are hoping to pass a 2018 budget resolution that includes special procedural language allowing GOP leaders to move a tax-reform bill through the Senate with just a simple majority - a move that would erase the Democrats' filibuster powers.