Gone also would be the alternative minimum tax (AMT), introduced in 1969 to prevent the rich from escaping paying their fair share of tax via tax loopholes. In 2005 the rule was responsible for $31m of the $38m Trump paid in federal taxes, according to leaked documents. Natalie Andrews (@nataliewsj) VIDEO: CEOs asked if they plan to increase their company's capital investments if the GOP's tax bill passes. Paying for the tax cuts is likely to mean cuts to social security and Medicare, the federal program that provides health insurance to those 65 and older. “Ultimately, the Senate tax plan could add $2.2 trillion to the debt.

Source: The Guardian November 18, 2017 12:33 UTC