Trump seeks to slash tax for businesses

President Donald Trump is to propose slashing the rate of corporation tax when he announces his tax plan later. White House officials say the centrepiece of Wednesday's announcement will be a sharp reduction in the business tax rate, from 35% to 15%. Economists say the tax cuts will add trillions of dollars to the deficit over the next decade. But Treasury Secretary Steven Mnuchin has said the tax plan "will pay for itself with economic growth". Also expected in the plan: some sort of repatriation tax, giving big companies an incentive to bring back money they hold overseas tax breaks for childcare expenses large increase to standard tax deduction a cut in individual rates, although few details expected yet more tax rate cuts for hedge funds, and other enterprises that pay taxes at individual rates Mr Trump's blueprint is not expected to include any proposals for raising new revenue. The much-discussed border tax that would put a tariff on imports - favoured by House Speaker Paul Ryan - will not be in the plan.

Comments

Post a Comment

Popular posts from this blog

Two killed in Portugal beach plane crash

Image
A man and a child have been killed after a light aircraft made an emergency landing on a beach in Portugal. Authorities said the incident took place on Sao Joao beach in Caparica, south-west of Lisbon. The National Maritime Authority said a middle-aged man and a young girl died after they were unable to avoid the plane. The plane's only two occupants were unharmed, it added. The Diario de Noticias newspaper quoted an eyewitness who said the plane had been flying at a low altitude over the beach, although he did not realise anything was wrong until other beachgoers began running. One young witness told Reuters news agency: "I was near the water when I saw the plane. I called my parents, the plane fell on the sand and ran over two people, fatally hurting them and another was injured, I think, but I'm not sure, people were running away. "The plane is still there, but the ambulances arrived quickly. I think maybe the fuel ran out because I find it weird that
Read more

Daca: Trump 'to scrap' amnesty for young immigrants

Image
Image copyright REUTERS Image caption Many recipients of the Daca programme have taken to the streets to defend it US President Donald Trump has decided to scrap a programme that protects young undocumented immigrants, according to reports. He will give Congress six months to draw up legislation to replace the Deferred Action for Childhood Arrivals (Daca), sources quoted by US media say. The decision,  first reported in Politico , is considered a compromise amid strong support for the scheme. However, the sources cautioned that Mr Trump could still change his mind. He is due to formally announce his decision on Tuesday. The Obama-era Daca programme protects hundreds of thousands  of so-called "Dreamers"  from deportation and provides work and study permits. Trump travel ban: People denied entry can reapply Trump backs proposal to curb legal immigration Analysis: The immigration topic Trump keeps avoiding According to Politico, the White House informed Hous
Read more

Yemen war: Saudi-led air strike 'kills 26 at Saada market'

Image
The coalition did not immediately confirm or deny that it was behind the attack4 A speculated Saudi-drove coalition air strike has executed no less than 26 individuals in revolt held northern Yemen, surgeons and neighborhood authorities say. Warplanes are accounted for to have shelled a lodging and a bustling business sector in the Sahar region of Saada area. Dissident controlled media said the range was swarmed with regular folks at the time. There was no quick remark from the coalition, which has upheld Yemen's administration in a more than two year war with the Houthi development. The coalition has denied purposefully focusing on regular people or framework, however human rights bunches say it has bombarded schools, doctor's facilities, markets and local locations. The agitator controlled Saba news office said the lodging and market in Sahar were swarmed with specialists and slow down proprietors when the region was hit at an early stage Wednesday. Rebel-cont
Read more