White House's Cohn: Repeal of estate tax and alternative minimum tax would be immediate

White House economic adviser Gary Cohn recently crossed the wires saying that under Trump's proposed tax plan, a typical family with two kids, earning $100,000, could expect a tax cut of $1,000. Cohn further added that repeal of the estate tax and the alternative minimum tax (AMT) would be immediate, as per Reuters reports.

Earlier in the day, “we think we can pay for the entire tax cut through growth over the cycle. Our plan was based on a 3 percent GDP growth. We think we can now be substantially above 3 percent GDP growth,” Cohn told CNBC during an interview.