Donald Trump (Tax Reform)

Trump's Tax Reform agenda seeks to fulfill four goals: (DTW)

1. Tax relief for middle-class Americans
2. Simplify the tax code
3. Grow the American economy
4. Don't add to Debt or Deficit

Personal

• An individual filing single that has earned less than $25,000 will not pay any income tax. (DTW-TR) [1]
• An individual filing head of household that has earned less than $37,500 will not pay any income tax. (DTW-TR)
• Couple married filing jointly that have earned less than $50,000 will not pay any income tax. (DTW-TR)
• Eliminate the marriage penalty (DTW-TR)
• Eliminate Alternative Minimum Tax (DTW-TR)

Trump Tax Brackets and Rates (DTW-TR)

Income Tax Rate	Long Term Cap Gains/ Dividends Rate	Single Filers	Married Filers	Heads of Household
0%	0%	$0 - $25,000	$0 - $50,000	$0 - $37,500
10%	0%	$25,001 - $50,000	$50,001 - $100,000	$37,501 - $75,000
20%	15%	$50,001 - $150,000	$100,001 - $300,000	$75,001 - $225,000
25%	20%	$150,001+	$300,001+	$225,001+

Corporate

• Corporate tax rate reduced to 15%, regardless of business size. (DTW-TR) Current rate hovers ~39.1%[2]
• Companies are required to bring their funds back from overseas accounts and pay a 10% tax on those funds. Funds used for overseas operating activities are exempt. (DTW-TR)

Funding for Tax Cuts

Trump pledges to propose alternative ways to keep revenue stable whilst reducing taxes. (DTCW-TR)[3]

• Eliminate loopholes and deductions for the very rich. Steepening the curve of the Personal Exemption Phaseout and the Pease Limitation on itemized deductions. (DTW-TR)
• 10% repatriation tax for corporate funds located overseas. (DTW-TR)
• End the deferral of taxes on corporate income earned abroad. (DTW-TR)
• Phase in a "reasonable cap" on the deductibility of business interest expenses. (DTW-TR)[4]