OnPolitics Today: Trump's tax plan poised to help Trump
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TAX POLICY UNDER DONALD TRUMP
Trump makes his pitch for tax reform | 2:51
Unveiling a new sweeping tax plan, U.S. President Donald Trump says it will benefit middle class workers the most and simplify the tax code. (Sept. 27)
AP
CLOSETAX POLICY UNDER DONALD TRUMP
Trump’s tax plan aims to help the middle class and businesses | 1:20
Trump wants to pare down the current seven individual tax brackets, which currently are in tiers ranging from 10 percent to 39.6 percent.
Video provided by Newsy
Newslook
CLOSETAX POLICY UNDER DONALD TRUMP
Trump touts ‘once in a generation’ tax plan | 2:37
President Donald Trump made the case Wednesday for a sweeping plan to overhaul the nation’s tax system for individuals and corporations, calling it a ‘once in a generation’ opportunity to cut taxes and create jobs. (Sept. 27)
AP
CLOSETAX POLICY UNDER DONALD TRUMP
Trump on tax reform: ‘Not going to help’ rich people | 0:23
President Donald Trump has revealed some details about a sweeping tax reform plan. The president says he wants tax cuts for everyday working people, not the rich.
USA TODAY
CLOSETAX POLICY UNDER DONALD TRUMP
Ryan calls tax reform ‘pro-growth, pro-family’ | 1:31
Pres. Donald Trump and congressional Republicans are proposing a far-reaching, $5 trillion plan that would cut taxes for corporations and potentially for individuals, simplify the tax system and nearly double the standard deduction. (Sept. 27)
AP
CLOSETAX POLICY UNDER DONALD TRUMP
Analysis: GOP tax plan would cut rates for many | 1:43
President Trump and Republicans are proposing a $5 trillion plan that would cut taxes for corporations and individuals, simplify the code and nearly double the deduction used by most Americans. But questions remain about how much it will cost. (Sept. 27)
AP
CLOSETAX POLICY UNDER DONALD TRUMP
Trump, Republicans planning big tax cuts for the rich and corporations | 2:21
The White House and congressional Republicans are finalizing a tax plan that would slash the corporate rate while likely reducing the levy for the wealthiest Americans, with President Donald Trump ready to roll out the policy proposal at midweek.
Time
CLOSETAX POLICY UNDER DONALD TRUMP
Trump unveils rough outline of tax cut package | 2:04
US President Donald Trump headed to Bismarck, ND, where he announced a tax cut package he says includes the biggest tax cut for middle-class families since Ronald Reagan. (Sept. 6)
AP
CLOSETAX POLICY UNDER DONALD TRUMP
Trump singles out Missouri Sen. Claire McCaskill in tax reform speech | 1:28
U.S. President Donald Trump said on Wednesday that Missouri should vote Democratic Senator Claire McCaskill out of office if she does not back his tax cut plan. Rough Cut (no reporter narration).
Video provided by Reuters
Newslook
Amid all the outrage this week over NFL players kneeling, Americans suffering in Puerto Rico and potential nuclear war, who’s looking out for rich people?Â
President Trump, by the looks of his new tax plan.
The proposal Trump rolled out Wednesday would cut taxes on so-called “pass through” businesses from 39.6% to 25%. Many of Trump’s ventures are, shockingly, “pass through” businesses.Â
It would also eliminate two taxes paid by the rich, the estate tax the individual Alternative Minimum Tax, which could together save the Trump family over $1 billion. Similarly wealthy families would do just fine, too.
So what’s it mean for non-millionaires without their own self-branded steak company? Find out below.
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This looks taxing
Trump’s tax plan, backed by top Republicans, could simplify returns, add a credit for elderly relatives and mean no income tax for working poor people. It dramatically cuts the top corporate tax rate while adding a top rate for small businesses that’s lower than the one for individuals. But how the plan pays for itself remains unclear. See the full details for yourself, and read about whether Democrats can stop it.
Elsewhere in politics
- Trump says he’ll negotiate with Democrats on health care plan
- Obamacare rates soar as White House refuses to make long term commitment to subsidies
- Trump cites support for health care bill from mystery senator in hospital
- Analysis: Trump’s political losses this week could hurt his policy agenda
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