What We Know About Donald Trump’s Tax Plan : NPR – Donald Trump Sucks

What We Know About Donald Trump’s Tax Plan : NPR – Donald Trump Sucks

Treasury Secretary Steve Mnuchin, center, arrives at a meeting with congressional leaders to discuss a tax overhaul Tuesday.

Eric Thayer/Getty Images


hide caption

toggle caption

Eric Thayer/Getty Images

Treasury Secretary Steve Mnuchin, center, arrives at a meeting with congressional leaders to discuss a tax overhaul Tuesday.

Eric Thayer/Getty Images

The White House is banging the drums that President Trump is doing something big again ahead of his 100th day in office — unveiling a tax “plan.”

What’s coming out Wednesday, though, are guidelines, not legislation, akin to what would be revealed in a campaign. But it does help set out the president’s priorities, so let’s take a peek:

1. First, what’s in it?

A few things:

15 percent business rate: The headline is a 15 percent business tax rate. That cuts the corporate tax rate down from 35 percent.

Small businesses would benefit: It would include companies that don’t pay through the corporate tax code, but for private businesses that pay through the income tax code (39.6 percent at the top). So that means small businesses would see a big cut.

Trump himself stands to gain tens of millions: This plan would be…

click here to read more

Tags:

Share this post

Post Comment