Trump has offered historic tax cuts

The White House announced an ambitious program of tax cuts, calling it “historic.”

28.Apr.17 1:43 AM
By Christina Orlina
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The plan of the President of the United States Donald Trump offers to establish tax incentives for families with children and to increase non-taxable amount of income couples with 12.7 thousand to $ 24 thousand.

Minister of Finance Steven Mnuchin announced that it also planned to reduce the tax on profits of companies – both corporations and small and medium-sized businesses.
“Our goal is to make U.S. businesses the most competitive in the world. Now we have a 35% rate of corporate tax. This is perhaps the most konovytsia and uncompetitive rate in the world,” said Mnuchin.

Tax on profits of companies is proposed to be reduced to 15%.The Finance Ministry also promised a flat and low tax on the return of profits from abroad to return to the country trillions of dollars earned by American companies in third countries.

Tax cuts and the return of production capacity and jobs in the U.S. were the most important points of the electoral program of Donald Trump. Experts warn that the announced tax cuts will lead to a significant reduction in the revenues of the Federal budget. But the U.S. Treasury has expressed confidence that the new tax reform “pay for itself” and will reduce the US national debt exceeding $ 20 trillion.

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