President Trump on February 9, 2017, said he would have a "phenomenal" announcement on tax policy within the next two or three weeks, and his spokesman elaborated that it would be the outline of a comprehensive plan addressing business and individual taxes.

The President's remarks came during a meeting with airline industry executives, during which he said: "Lowering the overall tax burden on American business is big league. That's coming along very well. We're way ahead of schedule, I believe, and we're going to be announcing something I would say over the next two or three weeks that will be phenomenal in terms of tax." Lower taxes were part of a list of steps the President promised in order to improve air travel, which also included rolling back regulations and developing aviation infrastructure.

During a later briefing, Press Secretary Sean Spicer said, "I think we're looking at in the next few weeks rolling out the outline of a comprehensive tax plan … that we'll be working with Congress on, that will address both the business side of the tax ledger as well as the individual rates."

Asked whether the forthcoming plan would be a mix of what was proposed during the campaign and the House Republican Blueprint on tax reform, Spicer said: "I'm just going to say that you're going to have to wait a couple of weeks before we put out that outline. But I can tell you that it's something that's going to spur economic growth, it's going to recognize the need to give so many working Americans the relief that they need." He said businesses are facing competition from abroad because of the tax code, which makes companies not want to stay in the United States. "The President recognizes that and what he wants to do is create a tax climate that not only keeps jobs here but … incentivizes companies to want to come here, to grow here, to create jobs here, to bring their profits back here," Spicer said, adding that the President and his staff have been engaged with members of Congress on the issue.

Spicer also signaled the intent to use reconciliation instructions under the forthcoming FY 2018 budget resolution to advance tax reform, consistent with comments by Republican congressional leaders, and said the Administration will have a budget out in a few weeks.

In an interview on Fox Business, Counselor to the President Kellyanne Conway said President Trump had tax reform and middle-class tax relief as central to his campaign and, "He is going to make good on that promise early in his Administration." She noted that it was June of 2001 when President George W. Bush's tax package was enacted and said, "This one will probably be much more bold and ambitious, and we are looking at the 1986 tax cuts by President Reagan," in addition to the struggles of American families and businesses under the current system. "So we are very excited in the next couple weeks, the President said he will make a statement obviously working very closely with Capitol Hill, the leaders of both parties, on this matter," Conway said.

The statements mark the first time the President has provided a timeframe for the release of his tax reform proposal, other than January comments that his team was "getting very close" to assembling something on the issue. Late February 3, President Trump tweeted: "Countries charge U.S. companies taxes or tariffs while the U.S. charges them nothing or little. We should charge them SAME as they charge us!"

None of the statements have answered one of the biggest questions of the tax reform discussion: whether President Trump will back the House Republican border adjustability proposal to exempt exports from tax but tax imports. Another key question is whether some Republican senators will oppose the proposal.

In a February 8, 2017, Dear Colleague letter, Senator David Perdue (R-GA), the former CEO of the Reebok athletic brand and Dollar General stores, said the border adjustment tax is "regressive, hammers consumers, and shuts down economic growth." He said since all imports would be taxed, the "clear effect of the proposed border adjustment tax is an increase in consumer prices." Perdue said the argument that currency revaluation would strengthen the dollar and not actually create additional burdens for taxpayers would still result in "more losers than winners." He said a successful currency revaluation would "trigger a multi-trillion dollar reduction in the value of foreign investments held by U.S. investors including many pension funds and retirees."

A separate document from the office of Senator Tom Cotton (R-AR) said the border adjustment tax: would affect "goods purchased by the working class," like food, apparel, toys, gas; and relies on assumptions about currency changes; and taxes the working class "to lower marginal rates for corporations."

Additionally, Senator Mike Rounds (R-SD) said during a CNBC interview that he is not on board with the proposal at this point. "Any time we start talking about how we're going to regulate products going out and products coming in, we better darn well know what the impact on the economy is before we start making major changes," he said. Senator John Cornyn (R-TX) also previously expressed skepticism about border adjustability.