Simplify tax brackets +$1.5 trillionThe plan moves from seven tax brackets for individuals to three — 10 percent, 25 percent and 35 percent — and lowers the top rate. Reduce the corporate tax rate +$3.7 trillionMr. Trump’s plan cuts the corporate tax rate to 15 percent from 35 percent. The deficit could increase a further $1.5 trillion because the change would encourage individuals to use creative accounting to take advantage of the lower corporate tax rate, it says. Mr. Trump’s plan cuts the corporate tax rate to 15 percent from 35 percent. Repeal the tax on investment income +$0.2 trillionThis plan would eliminate a 3.8 percent tax on investment income that helps to fund the Affordable Care Act.

Source: New York Times April 27, 2017 01:41 UTC