
In the beginning of 2017, two major comprehensive tax reform plans were being discussed: President Trump’s plan and the plan put forward by the House Ways and Means Committee, commonly referred to as the “Blueprint.” On September 27, 2017, the Trump administration released the Unified Tax Reform Framework. According to the Framework, the corporate tax rate will be lowered from 35% to 20%. Trump is also going to reduce the income tax for middle-income families. He asked for a one-time repatriation of corporate profits earned overseas. The president notes that the tax reform will give families and businesses more money […]
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