New York, Nov. 9 (EFE) .- Treasury Secretary Steven Mnuchin said today that US President Donald Trumo prefers to approve the expected fiscal reform as soon as possible, but it does not rule out delays in its approval.

"The president wants it to come into force as soon as possible. I think the sooner we have it - the tax cut companies, among others- will be better for the economy, "Mnuchin said during an event at the Economic Club of New York.

But the Treasury official acknowledged that the tax reform still continues to be debated in the House of Representatives and the Senate, including one of the central axes of President Trump's proposal to cut taxes on the middle class.

"Son things that are still being negotiated. Mnuchin insisted.

Trump's objective is for the House of Representatives to approve the bill on tax reform at the end of the month, around the Thanksgiving holiday, so that the Senate has about a month to do the same before Christmas.

On the other hand, the head of the Treasury referred to the current proposal for tax reform that are discussing the Republicans in Congress and assured that with her President Trump would have to pay more taxes.

"He will have an increase in taxes, for people who earn more than one million dollars in the states that have the highest taxes, there will be an increase in taxes, "said Treasury Secretary.

Trumo, like other billionaires, would look benefited with a reduction of federal taxes after the tax reform, but the current negotiations contemplate changes in state and local taxes.

The proposal delineated by the White House includes a reduction of the tax rate to companies from the current 35% to 20%, and simplifying the tax brackets of individual income, by passing the seven current to four: 12%, 25%, 35% and 39.6%.