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Trump’s Tax Plan
AN OVERVIEW OF TAX REFORM BASED ON DONALD
TRUMP’S VISION
Tax Reform
All Facts & Figures in these Slides are Subject to
Change.
Republicans Control Both Houses of Congress
◦ Plans to take action within the first 100 days
Top Priorities
◦ Repeal and replace Obamacare
◦ No more Medicare surcharge for high income earners
Simplify the Tax Code
Business Tax Reform
New Income Tax Brackets
Reduce the Number of Tax Brackets to 3
◦ 12, 25 and 33%
Tax Rate Single Married
12% $0 to $37,499 $0 to $74,999
25% $37,500 to $112,499 $75,000 to $224,999
33% $112,500 and up $225,000 and up
To be Repealed or Reduced
Repeal Alternative Minimum Tax and Estate Tax
Tax Breaks that may Potentially be Affected:
Reduced or Repealed
◦ Medical expenses
◦ State/local taxes
◦ Real estate taxes
Not likely to be Affected
◦ Mortgage interest deduction
Repatriation of Corporate
Cash
A one-time repatriation tax rate of 10%
Main Idea:
◦ US corporations have as much as $2.5 trillion in cash
sitting overseas.
◦ A deeply discounted rate would incentivize companies to
bring cash back into the US
◦ Businesses to reinvest in the US, hire locally, and tax
revenue will fund infrastructure projects

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Donald Trump's Tax Reform Plan

  • 1. Trump’s Tax Plan AN OVERVIEW OF TAX REFORM BASED ON DONALD TRUMP’S VISION
  • 2. Tax Reform All Facts & Figures in these Slides are Subject to Change. Republicans Control Both Houses of Congress ◦ Plans to take action within the first 100 days Top Priorities ◦ Repeal and replace Obamacare ◦ No more Medicare surcharge for high income earners Simplify the Tax Code Business Tax Reform
  • 3. New Income Tax Brackets Reduce the Number of Tax Brackets to 3 ◦ 12, 25 and 33% Tax Rate Single Married 12% $0 to $37,499 $0 to $74,999 25% $37,500 to $112,499 $75,000 to $224,999 33% $112,500 and up $225,000 and up
  • 4. To be Repealed or Reduced Repeal Alternative Minimum Tax and Estate Tax Tax Breaks that may Potentially be Affected: Reduced or Repealed ◦ Medical expenses ◦ State/local taxes ◦ Real estate taxes Not likely to be Affected ◦ Mortgage interest deduction
  • 5. Repatriation of Corporate Cash A one-time repatriation tax rate of 10% Main Idea: ◦ US corporations have as much as $2.5 trillion in cash sitting overseas. ◦ A deeply discounted rate would incentivize companies to bring cash back into the US ◦ Businesses to reinvest in the US, hire locally, and tax revenue will fund infrastructure projects