White House plan for tax cuts moves forward

The White House plan for sweeping tax reform is gaining new momentum as Republicans attempt to set aside months of party division and unify behind an essential part of President Trump’s agenda. There are two factors catalyzing this momentum, one is that key Senate Republicans reached a tentative deal this week to allow for as much as $1.5 trillion in tax reductions over 10 years. The other, is the GOP embrace of contentious estimates of how much economic growth their tax plan would create. Trump is pushing for what he says will be the largest tax cut in U.S. history, which advisers say will come from a sharp decrease in corporate tax rates and tax relief for the middle class.

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