Trumps Tax Plan Brackets. But Trump's plan does the opposite, says Lily Batchelder , a law professor at New York University and visiting fellow at the Tax Policy Center. Although there are still seven tax brackets, the tax rates for five of the seven brackets changed.
Of course, the details could easily change, and it's an open question as to when any changes would take effect.
A high-level overview of the key provisions of the Republican tax reform Framework.
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Republican leaders in the House and Senate have taken different approaches to modifying current federal income tax brackets. Because of Trump's insistence that taxes for the wealthiest Americans not decrease, the plan proposes the possibility of a fourth tax bracket at a rate. Under the Trump tax plan, both corporations and individuals are affected.