Business Standard

The winners and losers of Trump tax plan

The plan would cut the 35% corporate income tax to 15%

Donald Trump
Premium

Donald Trump. Photo: Reuters

The New York Times
The tax plan the Trump administration released Wednesday consists (so far) of a single page of bullet points. If this were a more rounded plan, we could wait for the tax wonks at various think tanks to run it through their models and tell with some precision how it would affect people at different income levels and who would benefit from different deductions.

Winners

Businesses with high tax rates: The plan would cut the 35% corporate income tax to 15% 

High-income earners: The plan would reduce the top rate on individual income tax — now 39.6% for income over around $470,000 for a

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in