Trump's Tax Plan Chart. Below is a chart that contains all you need to know about. The highest tax bracket is now 37 for big earners.
While light on detail the agenda includes a few tax policy items like expanding existing tax breaks creating credits for specific industries and activities and unspecified tax cuts for individuals. Reducing or eliminating most deductions and loopholes available to the very rich. Other changes include cutting the rates of income tax doubling standard deductions but also cutting some personal exemptions.
Thanks to these reforms our economy doesnt have to strain under a tax code from 1986 but will recover.
Trump Tax Plan Chart. There are still seven federal income tax. The Tax Foundation has analyzed both the plans using our Taxes and Growth TAG model to estimate how their plans would impact taxpayers federal revenues and economic growth. Other changes include cutting the rates of income tax doubling standard deductions but also cutting some personal exemptions.