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President Donald Trump and congressional Republicans unveiled Wednesday their plans for tax reform. The plan will reportedly cut taxes on corporations and individuals as well as simplify the tax code. (Alex Wong/Getty Images)
President Donald Trump and congressional Republicans unveiled Wednesday their plans for tax reform.
The Washington Post reported that Trump and Republican lawmakers released a nine-page document titled, “Unified Framework For Fixing Our Broken Tax Code,” outlining a plan they say will cut taxes on corporations and individuals as well as simplify the tax code.
“With significant and meaningful tax reform and relief, we will create a fairer system that levels the playing field and extends economic opportunities to American workers, small businesses, and middle-income families,” the document stated. “The Trump Administration and Congress will work together to produce tax reform that will put America first.”
In remarks Tuesday at the White House, Trump said the current tax code is “too complicated.”
“So we're going to make it very, very simple,” Trump said. “It's called simplification.”