US Prez unveils new framework for tax reform calling for sweeping cuts

US President Donald Trump has unveiled a Republican framework for tax reform that calls for sweeping tax cuts and a simplification of the tax code. Speaking to hundreds of supports at the Indiana State Fair grounds after the White House and congressional Republicans released a framework for sweeping changes to the tax system yesterday, he said that the plan is a once-in-a-generation opportunity.

The tax plan seeks to slash the corporate rate from 35 per cent to 20 per cent and create three individual tax brackets with rates of 12 25



and 35 per cent, with a recommended surcharge on the very wealthy.

Mr. Trump also wants to simplify the tax code to allow the majority of Americans to file on a single sheet of paper. Calling his plan a giant win for the American people, he rediculed the current tax system as a relic and a colossal barrier standing in the way of the nation's economic comeback. He added that his Administration is going to remove that barrier to create the tax system that the people finally want and deserve.