Trump's tax plan: business owners win, deficit hawks lose
September 28, 2017
WASHINGTON (AP) — Small business owners, large corporations and the super wealthy could fare well under President Donald Trump's tax plan. The middle-class could come out ahead, too, but the plan has too many holes to determine how individual taxpayers would be affected.
The plan would reduce the number of tax brackets from seven to three — 12 percent, 25 percent and 35 percent. But it doesn't specify the income levels for each bracket. Those are important details, which will be sorted out by Congress.
Trump is scheduled to unveil his tax plan Wednesday at an event in Indiana. The plan...