On 26 April 2017, U.S. National Economic Director Gary Cohn and Treasury Secretary Steven Mnuchin held a briefing to unveil the principles and priorities of the Trump administration's tax reform plan, which includes overall simplification and lower rates. With regard to business tax reform, main points include: Lowering the business tax rate to 15%, including for pass-through companies; Changing to a territorial tax system; and Providing a one-time tax on profits held overseas (at a yet to be determined competitive rate). With regard to individual tax reform, main points include: Reducing the seven individual tax brackets to three tax brackets...