Trump sticks with 15 percent tax rate and child care credits in Missouri speech
(Worthy News) – President Trump restated his campaign goals of lowering the corporate tax rate to 15 percent and offering new tax benefits for child care in a speech on tax reform in Springfield, Mo., Wednesday, although he didn’t offer any new details.
Neither of those ambitions were included in the joint statement on tax principles that the Trump administration released with congressional Republicans in July. That brief, broad statement is the most detailed account yet of what the GOP hopes to do on taxes this year. Yet Trump’s remarks at the Loren Cook Co. suggest that he hasn’t given up on some of his own ideas.
“Ideally … we would like to bring our business tax rate down to 15 percent,” Trump said in his speech, highlighting the difference between the 35 percent corporate tax rate in the U.S. and lower rates in other developed nations. [ Source (Read More…) ]