Trump Releases His Tax... Plan
The Trump Administration revealed its much-anticipated plan for broad tax reform yesterday. The main themes behind the plan are slashing federal taxes for businesses, and simplifying the guidelines for individual taxpayers. While this is seen as one of the largest tax cuts in U.S. history, the bi-partisan Committee for a Responsible Federal Budget believes that Trump’s plan could drastically increase the federal deficit and could cost anywhere between 3 and 7 trillion dollars in lost revenue over the next decade. Many critics say that the proposal does not address complex questions about tax policy that need to be answered.