President Trump and House Ways and Means Committee Chairman Kevin Brady, R-Texas, are moving forward with a new tax-cut plan — “an additional 10 percent tax cut to middle-class workers across the country,” announced Wednesday. In a statement to Fox News, they said the tax-cut plan would mean “doubling the standard deduction, doubling the Child Tax Credit, and substantially lowering tax rates. A typical family of four earning $75,000 will get a tax cut of $2,000, which cuts their tax bill in half.”The statement also pledged more benefits for middle-income Americans next year. Said Trump and Brady in the statement: “By enacting the Tax Cuts and Jobs Act, we rejected the previous administration’s assertion that a stagnant, slow-growth economy was the best America could do. Addressing reporters on Wednesday, Senate Finance Committee Chairman Orrin Hatch, R- Utah, said it was “highly unlikely” the Senate would vote on Trump’s tax cut plan after the election.

Source: Fox News November 01, 2018 00:22 UTC