Trump's promised tax plan is here, including lower tax rates and fewer deductions

President Donald Trump's long-anticipated tax proposal was released today. U.S. National Economic Director Gary Cohn called the proposal "the most significant tax reform legislation since 1986." He said the President has focused on three things since he took office: job creation, economic growth, and "helping the low and middle income families who have been left behind by this economy" who are "sick of turning their paychecks over to Washington."

On "Pure Opelka" today, Mike Opelka dove into the specifics. The White House proposal eliminates four tax brackets, leaving only three: 10%, 25%, and 35%. The administration has yet to disclose the earning parameters for the remaining brackets.

Mike pointed out that this proposal eliminates nearly all of the typical tax breaks for individuals, but will continue mortgage interest deductions and charitable deductions.  Leaving these in place will stimulate home purchases and retain the incentive for charitable giving.

To see more from Mike, visit his channel on TheBlaze and listen live to “Pure Opelka” weekdays 12-3 p.m. ET, 7–10 p.m. ET & Saturdays 6–9 a.m. ET, only on TheBlaze Radio Network.