So what’s in the now unveiled (yet vague) Trump Tax Plan; NO Border tax adjustment, small adjustment in individual tax rate but double the deduction and doubly but elimination of itemized deduction (charitable & mortgage not included) – PB/TK
UNVEILED: TRUMP’S TAX PLAN – By Bob Bryan April 26 2017
President Donald Trump on Wednesday rolled out a tax plan that proposes to slash corporate taxes and tweak personal tax rates but that excludes a tax on imports favored by some congressional Republicans.
While the plan contains broad outlines rather than firm legislative text, Treasury Secretary Steven Mnuchin said during a speech Wednesday that the plan would include “the biggest tax cut” in US history, echoing statements made by Trump.
While Mnuchin did not apply a deadline to passing a tax plan, he told an event hosted by The Hill that the White House and congressional leaders wanted to pass a bill “as quickly as possible.”
Continue to businessinsider.com article: http://www.businessinsider.com/trump-tax-reform-cut-plan-proposal-2017-4
