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Trump’s ‘Massive’ Tax Plan: One Page, Many Unanswered Questions

  • Concerns center on whether plan would expand federal deficit
  • GOP leaders praise ‘guideposts,’ as Democrats vow opposition
Bloomberg business news

Cohn Unveils 'One of Biggest Tax Cuts' in U.S. History

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The “phenomenal” tax plan that President Donald Trump promised 11 weeks ago appeared at a White House briefing Wednesday: It was a one-page list of bullet-points that amounted to fewer than 250 words.

The document was largely devoid of detail, including on whether the proposed cuts for businesses and individuals would increase the federal deficit. The answer to that question may determine whether Trump’s recommended 15 percent corporate tax rate -- a huge cut from the current 35 percent -- would be permanent or temporary.