In the days following the release of the proposed Republican “framework” for implementing tax reform, issues have been raised about its contents. For example, some analysts and organizations have argued that large tax cuts would significantly increase the deficit if the economic growth projected by Republicans fails to materialize.
President Trump has said his plan, released in a nine-page document titled “Unified Framework for Fixing Our Broken Tax Code,” is aimed at cutting taxes and creating jobs. It also strives to make the Internal Revenue Code simpler. Let’s take a closer look at how the proposal may affect individual taxpayers.Read More