Trump, GOP Tax Plan Cuts Rates, Nearly Doubles Deduction

Sep 27, 2017 |
Trump, GOP Tax Plan Cuts Rates, Nearly Doubles Deduction

President Donald Trump and congressional Republicans are proposing a far-reaching, $5 trillion plan Wednesday that would cut taxes for individuals and corporations, simplify the tax system and nearly double the standard deduction used by most Americans. The plan is sweeping in scope but omits critical, controversial details that are likely to take months to work out in a bitterly divided, GOP-led Congress. The political stakes are high for Republicans and for Trump, whose agenda has largely sta
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