nat4900
Diamond Member
- Mar 3, 2015
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Trump promised he would work with Congress to introduce for passage in the first 100 days a middle class tax relief bill
“Next, I will work with Congress to introduce the following broader legislative measures and fight for their passage within the first 100 days of my administration. … Middle class tax relief and simplification act. An economic plan designed to grow the economy 4% per year and create at least 25 million new jobs through massive tax reduction and simplification in combination with trade reform, regulatory relief and lifting the restrictions on American energy. … The largest tax reductions are for the middle class. … The middle class with family of two children will get basically approximately a 35% tax cut. … The current number of brackets will be reduced from seven to three. And tax forms will likewise be greatly simplified. The business rate will be lowered from 35% to 15%. And the trillions of dollars of American corporate money overseas can now be brought back at a 10% rate.” [Gettysburg, PA, 10/22/16]
Treasury Secretary Steven Mnuchin said that there is no guarantee that middle class families would not pay more under the proposals. The focus is on corporate tax reform, and Trump himself would benefit from a proposal to change the way corporations like the Trump Organization pay taxes.
“Next, I will work with Congress to introduce the following broader legislative measures and fight for their passage within the first 100 days of my administration. … Middle class tax relief and simplification act. An economic plan designed to grow the economy 4% per year and create at least 25 million new jobs through massive tax reduction and simplification in combination with trade reform, regulatory relief and lifting the restrictions on American energy. … The largest tax reductions are for the middle class. … The middle class with family of two children will get basically approximately a 35% tax cut. … The current number of brackets will be reduced from seven to three. And tax forms will likewise be greatly simplified. The business rate will be lowered from 35% to 15%. And the trillions of dollars of American corporate money overseas can now be brought back at a 10% rate.” [Gettysburg, PA, 10/22/16]
Treasury Secretary Steven Mnuchin said that there is no guarantee that middle class families would not pay more under the proposals. The focus is on corporate tax reform, and Trump himself would benefit from a proposal to change the way corporations like the Trump Organization pay taxes.