Trump wants to simplify the process of filing tax returns
Donald Trump Photos: Facebook The White House
US President Donald Trump presented a plan for tax reform. Trump described his program in a weekly address to the country.
Thus, the administration intends to simplify the process of filing tax returns, reduce taxes for families of the middle class, and restore the competitiveness of the American economy.
“Today we have the highest business tax rate among all developed countries - on average 60% higher than our main foreign competitors. This is a devastating bet on every made-in-America product, and it is forcing American businesses to move jobs and businesses overseas,” the US President said.
He stressed that the current tax code is a “heavy lead burden” for the US economy.
According to the president, “because of him, we have lost millions of jobs, trillions of dollars. Billions and billions of hours were spent filling out papers and unnecessary requirements. ”
Earlier, Trump suggested sharp cut in rates both individual and corporate income tax, reducing the number of steps in the tax scale to 3-10%, 25% and 35%, and reducing the tax burden for most Americans, including the rich.
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