Trump Pledges More Tax Cuts

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Tax Cuts

CNN

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Here’s how Trump says he’ll help US businesses through tariffs and taxes | CNN Politics

Summary

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77% Informative

Donald Trump is scheduled to outline his plan for lowering taxes for American business owners on Tuesday .

The former president has already vowed to hike tariffs and to further reduce the corporate tax rate to 15% for companies that make their products in the US .

All of Trump ’s tax cut proposals would need congressional approval, but he could institute his tariffs by executive action.

Most of the TCJA corporate tax changes are permanent, but several measures have expired or are set to end soon.

Trump has promised to extend the entire law, unlike Harris , who has indicated her support for letting the provisions targeted at the wealthy and big corporations lapse.

Reestablishing the deduction with a 15% effective rate would reduce revenues by $200 billion .

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English

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