Following months of speculation, Republican leaders officially unveiled a plan Wednesday to rewrite the U.S. tax code. The ambitious framework matches or comes close to matching President Donald Trump’s campaign promise to reduce taxes on businesses and individuals. The proposed plan, which aims to lower taxes on corporate income and simplify individual income tax brackets, is expected to make its way through Congress in the coming months. According to analysts, that’s where the real challenge starts. For starters, Congress hasn’t approved a tax rewrite this ambitious since 1986. Secondly, the Trump camp has struggled mightily to earn lawmakers’ support around […]
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