Trump says his 'massive' tax plan is coming next week

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President Donald Trump said that he expects to release his plan for a tax overhaul on "Wednesday or shortly thereafter" in an interview with the Associated Press on Wednesday.

Trump told the AP that the plan would include a "massive" tax cut for corporations and businesses.

During the campaign, Trump said that he would cut the federal corporate tax rate to 15% from its current 35% level.

In response to the news, stocks popped with the Dow Jones industrial average jumping a little over 30 points from 20,541 to 20,572 as of 2:07 p.m. ET.

Click through President Trump's executive orders:

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President Trump's executive orders
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President Trump's executive orders

April 18, 2017

Presidential Executive Order on Buy American and Hire American

(Daniel Acker/Bloomberg via Getty Images)

March 31, 2017

Presidential Executive Order Regarding the Omnibus Report on Significant Trade Deficits

(REUTERS/Carlos Barria)

March 31, 2017

Presidential Executive Order on Providing an Order of Succession Within the Department of Justice

(REUTERS/Yuri Gripas)

March 29, 2017

Presidential Executive Order Establishing the President’s Commission on Combating Drug Addiction and the Opioid Crisis

(REUTERS/Jonathan Ernst)

March 28, 2017

Presidential Executive Order on Promoting Energy Independence and Economic Growth

(Photo by Ron Sach-Pool/Getty Images)

March 27, 2017

Presidential Executive Order on the Revocation of Federal Contracting Executive Orders

(Photo credit should read MANDEL NGAN/AFP/Getty Images)

March 13, 2017

Presidential Executive Order on a Comprehensive Plan for Reorganizing the Executive Branch

(REUTERS/Carlos Barria)

March 6, 2017

Executive Order Protecting The Nation From Foreign Terrorist Entry Into The United States

(Photo by Mark Wilson/Getty Images)

February 24, 2017

Presidential Executive Order on Enforcing the Regulatory Reform Agenda

(Photo by Olivier Douliery - Pool/Getty Images)

February 9, 2017

Providing an Order of Succession Within the Department of Justice

(Andrew Harrer/Bloomberg via Getty Images)

February 9, 2017

Presidential Executive Order on Enforcing Federal Law with Respect to Transnational Criminal Organizations and Preventing International Trafficking

(REUTERS/Aaron P. Bernstein)

February 9, 2017

Presidential Executive Order on Preventing Violence Against Federal, State, Tribal, and Local Law Enforcement Officers

(Andrew Harrer/Bloomberg via Getty Images)

February 9, 2017

Presidential Executive Order on a Task Force on Crime Reduction and Public Safety

(Photo by Olivier Douliery - Pool/Getty Images)

February 3, 2017

Presidential Executive Order on Core Principles for Regulating the United States Financial System

(Photo by Cheriss May/NurPhoto via Getty Images)

January 30, 2017

Presidential Executive Order on Reducing Regulation and Controlling Regulatory Costs

(REUTERS/Carlos Barria)

January 28, 2017

Presidential Executive Order on Ethics Commitments By Executive Branch Appointees

(Photo credit should read MANDEL NGAN/AFP/Getty Images)

January 27, 2017

Presidential Executive Order on Protecting the Nation from Foreign Terrorist Entry Into the United States

(Photo by Mark Wilson/Getty Images)

January 25, 2017

Presidential Executive Order on Border Security and Immigration Enforcement Improvements

(Chip Somodevilla/Pool via Bloomberg)

January 25, 2017

Presidential Executive Order on Enhancing Public Safety in the Interior of the United States

(Photo by Jabin Botsford/The Washington Post via Getty Images)

January 24, 2017

Presidential Executive Order Expediting Environmental Reviews and Approvals For High Priority Infrastructure Projects

(Photo credit should read JIM WATSON/AFP/Getty Images)

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