'The Biggest Individual and Business Tax Cut in American History'
On April 26, President Trump rolled out the first details of his tax plan, which will reform the complicated tax code, slash rates, and empower companies and workers to create jobs and keep more of their money in their own pockets.
PERSONAL TAX REFORM
- Provide Tax Relief for Middle Income Families
- Simplify the Tax Code by Moving from 7 to 3 Brackets: 0, 10, 25, 35
- Modernize Tax Code to Help Families Struggling with Child & Dependent Care Costs
- Repeal 3.8% Obamacare Tax on Investment Income
- End Alternative Minimum Tax
- Eliminate Itemized Deductions Except Mortgage Interest & Charitable Contributions
- End the Death Tax
BUSINESS TAX REFORM
- 15% Corporate Rate
- Small Business Owner/Operators Eligible for Business Rate
- Territorial Tax System to End Penalty on Companies Headquartered in the U.S.
- Onetime Tax for Repatriation to Bring Back Trillions of Dollars from Overseas
- Eliminate Tax Breaks for Special Interests
Throughout May, the Trump Administration will hold listening sessions with stakeholders to receive their input. Working the the House and Senate, the Administration will develop the details of a tax plan that provides massive tax relief, creates jobs, and makes America more competitive -- and can pass both chambers.
You can help by attending town halls and talking to your neighbors about provisions you support and the importance of tax reform to America's bright future.