US President Donald Trump raised the US tax reform for the past three decades, calling for a tax cut for most Americans, but it also sparked criticism that the program was beneficial to businesses and the rich and could increase tens of thousands The deficit of $ 100 million.

       The proposal on Wednesday (September 27) raises the skeptic question that Senator Bob Corker, a Republican "finder hawk", has vowed not to vote for any federal tax program that relies on borrowing. "I can tell you that I will not vote for any bill that will increase our deficit," Corker told reporters.

       Trump said his tax plan is designed to help wage earners, create jobs, make tax laws simpler and more equitable.

       But Trump's plan will face a "hard fight" in Congress, and Trump's own Republicans have disagreements on this issue, and Democrats are hostile.

       The plan will cut the income tax rates for large enterprises and small businesses, reduce the maximum income tax rate for high-income individuals and cancel some popular tax cuts.

       Trump's tax reform policy includes a corporate income tax rate from the current 35% to 20%; personal income tax category will be reduced from seven to three, respectively, 12%, 25%, 35%, which means that the minimum personal income tax The rate will increase from the current 10% to 12%; the highest personal income tax rate from 39.6% to 35%. In addition, the tax reform plan also proposed to cancel the real estate estate tax, increase children's tax credit, change the US multinational tax methods and other initiatives.

       The tax plan was developed by Trump's assistant and Congressional Republican high-level talks over a few months, and the plan barely contains details of how to pay for tax cuts without expanding the budget deficit without increasing government bonds.

       The plan still needs to be passed.

       Financial markets rebounded after the announcement of the plan, traders expect the stock market will benefit from faster economic growth and inflation.

       Trump said the plan was the biggest tax cut in US history. "What we want is to support growth, support employment, support workers, support family tax reform, and support the tax reform of Americans," he said.

The politician of the real estate tycoon had committed a substantial tax cut when he was a candidate, and he told reporters that he would not have benefited from the offer.

       Since Trump came to power in January, Republicans did not make significant legislative success, even though they controlled the White House and Congress. For decades, successive presidents and congresses have failed to make full changes to the tax laws. The last full revision was passed under the leadership of the 1986 Republican President Ronald Reagan.

        Trump has urged the Democratic Party to support the plan, although they did not consult their views when drafting the plan.

        Democrats say the plan aims to impose a tax cut on the wealthy Americans, rather than a middle-class family that Trump wants to help, which will widen the federal deficit.

       According to the Federal Budget Board estimates, it is estimated that the plan will be reduced within a decade 5.8 trillion US dollars of tax revenue, by 2027 the net cost will reach 2.2 trillion US dollars.

       In response to the Republican Party's efforts to repeal the Obama Medicare bill, Trump said on Wednesday that he was developing an executive order to expand coverage of health insurance and to negotiate with the Democratic Party next year on legislative solutions.


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Trump's 30-year maximum tax reform program: corporate income tax rate will be reduced from 35% to 20%, the US rich will benefit?

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