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This will inevitably include simplifying the tax code, announcing tax cuts for the middle class, putting forward a $1 trillion infrastructure spending plan and making USA companies competitive on the global market.

Trump on Tuesday evening will give his first speech before a joint session of Congress.

Welfare benefits that could be targeted include food stamps, housing assistance and the Earned Income Tax Credit.

"We need to create a level playing field", he said. He says people should not "expect to see that as part" of the administration's first budget.

Currently, the US personal income tax code has seven brackets, which President Trump, who made tax reform a mainstay of his campaign, wants to reduce to just three.

FOX 'X-Men' TV Series Pilot Casts Jamie Chung as Blink
Much in the way Legion focuses on Professor X's son, the new X-Men series could elevate less exposed mutants to top tier status. Fans may recall that Katrina Florece (X-Men), Kea Wong (X2), and Lana Condor (X-Men: Apocalypse ) all played Jubilee on screen.


"Not since Harry Truman has the national debt been so high as a share of the economy for a new president", said former defense secretary and Central Intelligence Agency director Leon Panetta, former Republican Indiana governor Mitch Daniels and former Democratic Rep. Tim Penny from Minnesota.

By reforming the tax code, the administration believes companies will bring back "trillions of dollars" sitting offshore and "redeploy" the money in the USA, according to Mnuchin. On the business side, Trump wants to "create a level playing field for US companies to be able to compete in the world".

Additionally, the administration is reviewing a possible border adjustment tax, which would allow the U.S.to collect fees on imports from other countries.

Mnuchin also attempted to assuage fears of a move towards protectionism, saying Trump "believes in free trade, but he believes in fair trade".

A Trump "budget blueprint" being released today would add $54 billion in defense and security funding next year while cutting that amount from "lower priority programs" across government agencies, according to the administration. "It's going to be really fast", said Mnuchin. "We are very focused on other aspects and that's what's very important to us".


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