Trump likely to propose 15% tax rate for all businesses, not just corporations

As it is shaping up, President Trump's new tax plan sounds a lot like his old one. A Trump administration official told CNN on Tuesday that Trump may propose a major tax cut for so-called "pass-through businesses" from 39.6% to 15%. That comes on the heels of news that Trump is also considering a big reduction in the top rate for corporations from 35% to 15%. The Trump administration is planning to announce a tax plan on Wednesday, though it is expected to be more of an outline and not rich in detail.

Read More: http://money.cnn.com/2017/04/25/news/economy/trump-tax-rate-cut-businesses/index.html?iid=hp-toplead-dom

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