Good news! President Donald Trump is pushing for a 15% corporate tax cut and substantial tax cuts for individuals. That means more money in your pocket if you’re a business owner. Trump’s tax reform means more cash in your refund checks — if you’re lucky enough to get a tax refund.
Bloomberg.com reports President Trump is meeting with Congressional leaders to iron out the details of his tax reform plan that will be released as soon as Wednesday.
Trump is reportedly “very determined” to stimulate the economy to achieve sustained economic growth of 3 percent or greater. “The tax plan will pay for itself with economic growth,” said Treasury Secretary Steven Mnuchin.
Mnuchin told reporters that Trump’s principles will include a “middle income tax cut,” and cuts in business taxes as well as “simplification” of the code so most Americans can file taxes on a postcard.
Reforming the tax code was one of the president’s campaign promises.