President Trump highlighted a tax cut for which many businesses have been clamoring – full and immediate deductions for capital investments in items such as equipment. It’s actually one of the issues where mainstream economists and Trump agree.

The president's remarks come at a pivotal point for markets, as the post-election wave of exuberance and excitement has given way to anxiety.

Cutting IRS staffing in half over the next 10 months would mean less help and longer waits for many US taxpayers and increase the risk that wealthy tax cheats escape paying what they owe.

The second Trump administration is reportedly working on a plan to dramatically reduce the workforce at the Internal Revenue Service.

The IRS is drafting plans to cut its workforce by as much as half through a mix of layoffs, attrition and incentivized buyouts.