A Strong Plan to Help the Middle Class and Close Rich
Trump’s New Tax Plan Targets Middle Class Relief
President Trump has unveiled a tax proposal aiming to ease financial pressure on workers and retirees by eliminating federal taxes on tips, overtime pay, and Social Security benefits.
“This is about making sure the American worker gets a fair deal,” said Senator Josh Hawley.
Tackling Loopholes & Corporate Taxes
The plan also seeks to close the carried interest loophole for Wall Street investors and lower the corporate tax rate from 21% to 15%.
Supporters argue it will “stimulate economic growth,” but critics warn it may deepen inequality.
Extending the 2017 Tax Cuts
Trump’s team wants to extend the 2017 Tax Cuts and Jobs Act. Supporters claim ending it would be “a massive tax hike.”
Political Showdown
Democrats strongly oppose the plan. Rep. Hakeem Jeffries called it “a Trojan horse for corporate greed.”
Even some Republicans urge caution, with Senator Rand Paul saying, “We need to be responsible about how we fund it.”
