The tax proposal President Trump will unveil Wednesday won't include infrastructure spending, Treasury Secretary Steven Mnuchin said.

“This plan is just tax reform,” Mnuchin said at an event hosted by The Hill.

Mnuchin also confirmed that the proposal would cut tax rates for businesses to 15 percent.

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When it comes to House Republicans' controversial "border-adjustment" proposal to tax imports and exempt exports, Mnuchin said, “We don’t think it works in its current form.” He added that the White House will continue to have discussions with lawmakers about potential revisions to the proposal. Watch Mnuchin talk to The Hill's Bob Cusack here.