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Trump's tax plan to propose deep US rate cuts, lacks revenue details

Republicans also expect to predict that the tax-cuts if approved by Congress, would drive more robust economic growth, predicitons that critics are sure to question

Reuters  |  Washington 

US President Donald Trump will call on Wednesday for slashing tax rates on businesses and the wealthy as part of a new tax plan that is likely to offer few details about how to pay for the cuts without expanding the federal deficit. Hammered out over months of talks among Trump aides and top Republicans in Congress, the plan to be unveiled at an event in Indianapolis was expected to propose a 20 per cent corporate income tax rate, a new 25 per cent tax rate for pass-through businesses such as partnerships, and a reduced 35 per cent top income tax rate for individual ...

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First Published: Wed, September 27 2017. 19:11 IST