While the president billed it as tax reform,it’s unclear if his proposals will simply consist of tax cuts or be an overarching map to reshape US taxationDonald Trump will unveil a proposal for a major corporate tax cut on Wednesday, involving dramatically cutting corporate tax rates to 15% from 39.6% and ending taxation of corporate profits earned abroad.
The treasury secretary, and Steven Mnuchin,confirmed the cut on Wednesday morning at a speech in Washington but declined to say how specifically the administration would pay for the cuts. Related: Trump promises to unveil tax reform map as 100th day in office approaches Continue reading...
Source: theguardian.com