Trump’s Tax PlanAN OVERVIEW OF TAX REFORM BASED ON DONALD TRUMP’S VISION

Tax Reform All Facts & Figures in these Slides are Subject to Change.

Republicans Control Both Houses of Congress◦ Plans to take action within the first 100 days

Top Priorities◦ Repeal and replace Obamacare◦ No more Medicare surcharge for high income earners

Simplify the Tax Code Business Tax Reform

New Income Tax Brackets

Reduce the Number of Tax Brackets to 3◦ 12, 25 and 33%

Tax Rate Single Married 12% $0 to $37,499 $0 to $74,99925% $37,500 to $112,499 $75,000 to $224,99933% $112,500 and up $225,000 and up

To be Repealed or Reduced

Repeal Alternative Minimum Tax and Estate Tax

Tax Breaks that may Potentially be Affected: Reduced or Repealed

◦ Medical expenses◦ State/local taxes◦ Real estate taxes

Not likely to be Affected◦ Mortgage interest deduction

Repatriation of Corporate Cash

A one-time repatriation tax rate of 10%

Main Idea:◦ US corporations have as much as $2.5 trillion in cash

sitting overseas.◦ A deeply discounted rate would incentivize companies to

bring cash back into the US◦ Businesses to reinvest in the US, hire locally, and tax

revenue will fund infrastructure projects