Donald Trump unveils tax plan to lower taxes for millions
- 9 years ago
Republican presidential front-runner Donald Trump, as part of a plan he said Monday would grow the U.S. economy at a pace not seen in years, proposed eliminating income taxes for millions of Americans and lowering rates for the highest-income earners.
Trump's plan for an overhaul of the U.S. tax code would eliminate federal income taxes on individuals earning less than $25,000 and married couples earning less than $50,000.
Trump said he wants to eliminate the "carried interest loophole," which allows managers of hedge funds and private equity firms to pay a lower tax rate than most individuals, and would reduce or eliminate most deductions and loopholes for individuals and corporations.
Trump's plan for an overhaul of the U.S. tax code would eliminate federal income taxes on individuals earning less than $25,000 and married couples earning less than $50,000.
Trump said he wants to eliminate the "carried interest loophole," which allows managers of hedge funds and private equity firms to pay a lower tax rate than most individuals, and would reduce or eliminate most deductions and loopholes for individuals and corporations.