Details Of Trump Tax Plan. Here's how the new tax brackets, standard deduction, and other changes affect you. It is the opening salvo of what is likely to be a long process to attempt to overhaul the tax code. "Too many in our country are shut out of the dynamism of the US economy.
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. GOP Presidential candidate Donald Trump released details of his tax reform plan today. There will be three brackets total, down from seven, with the other.
Donald Trump unveiled his new plan for overhauling the federal tax code in a speech at Trump Tower in New York this morning.
The plan — previewed in a Wall Street Journal article and detailed by the campaign here — is being sold as a populist overture, a cut for the poor and middle class that still hits.
The Trump tax plan was the biggest tax code reform in decades. Ana Kasparian and John Iadarola, hosts of The Young Turks, break it down. Although the White House hasn't released many details, the Tax Policy Center (TPC) looked at a similar tax proposal from the campaign last fall.