President Trump LIVE on the Tax Plan! WATCH! Live Stream inside!
The Tax Reform Framework begins with this quote from President Donald J Trump:
“It is now time for all members of Congress — Democrat, Republican
and Independent — to support pro-American tax reform. It’s time
for Congress to provide a level playing field for our workers, to bring
American companies back home, to attract new companies and businesses
to our country, and to put more money into the pockets of everyday
President Donald J. Trump | Milwaukee Journal Sentinel | September 3, 2017
To read the Tax Framework in pdf format, in it’s entirety, click here.
LIVE Stream: President Trump Speech on Tax Reform in Indianapolis, IN (9/27/17)
Here is an overview of the overall scope:
- Standard deduction increased to $12,000 for individuals and $24,000 for families, which essentially doubles the amount of personal income that is tax-free
- The individual tax rates would be 12 percent, 25 percent and 35 percent brackets – reduce the number of tax brackets from 7 to 3 maybe a 4th later – administration has not released income level for each bracket yet
- Increased child tax credit
- New tax credit for elderly
- Corporate tax rate cut from 35% to 20%
- The estate tax –would be eliminated
President Trump is in Indianapolis, Indiana to give a speech on The Tax Reform. Earlier today Paul Ryan spoke on it.
Top Democrats are saying that the Tax Reform is not for the middle class. However, the tax reform, clearly seems to be inline with assisting the middle class of America.
Do you think the tax reform will create jobs and put more money in your pocket ?
Drop a comment and let us know.