The president’s one-page outline for changes to the tax code would reduce the current seven income tax brackets to three, cut the corporate tax rate by more than 50 percent and abolish the alternative-minimum tax and estate tax. Trump administration officials didn’t address how much the plan would reduce federal revenue or grow the debt.
Washington Post: Trump goes big on tax overhaul plan that would affect most Americans
US President Donald Trump talks during a national teacher of the year event in the Oval Office of the White House April 26 in Washington, DC.
