The chairman of the House of Representatives’ powerful tax writing committee says the tax reform blueprint laid out by President Trump last week is “exciting” and predicts enactment will lead to stronger businesses and more financially secure families. Trump’s economic team laid out the administration’s principles on Wednesday, including a call for the corporate tax rate to drop from almost 40 percent down to 15 percent, a doubling of the standard individual deduction, and creating just three tax brackets instead of seven.

Source: ‘Very exciting’ – Trump goes ‘bold’ on tax promise

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