Trump unveils tax plan that would lower taxes for millions
WASHINGTON - Republican presidential front-runner Donald Trump is calling for an overhaul of the tax code that would eliminate income taxes for millions of Americans, and lower them for the rich.
Trump is unveiling his tax plan at a press conference Monday at Trump Tower in Manhattan.
The plan calls for eliminating federal income taxes on individuals earning less than $25,000 and married couples earning less than $50,000.
But the plan would also benefit businesses and the rich. It would lower the corporate tax rate from 35 percent to 15 percent and lower the highest income tax rate from 39.6 percent to 25 percent.
He's also proposing eliminating the so-called "carried interest loophole" that allows managers of hedge funds and private equity firms to pay a lower tax rate than most individuals.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
One dead in drive-by shooting north of Denham Springs
Chemical leak in Ascnesion Parish prompts evacuations
Grace period for flood victim utility disconnections will soon end
State shuts down driving school that left students out in the cold
Family homeless since flood starts fire in abandoned house