Tax Reform Details Dribble Out…

Some of the expected tax provisions include:

  • Apparently, negotiators are pursuing a corporate rate of 20 percent, despite President Trump’s preference for a 15 percent rate.
  • The plan also sets a slightly higher rate of 25 percent for “pass through” businesses.
  • The administration is also pushing for a top individual rate of 35 percent — the same number it proposed in a one-page outline of principles in April. But there is not yet agreement among the negotiators over what the effective rate for the “wealthiest” households should be.

More tomorrow, when the plan is expected to be released!