Cohn: Trump plan will repeal so-called death tax on estates
|During a press conference at the White House, National Economic Director Gary Cohn stated that Trump plan will repeal so-called death tax on estates.
Key quotes (via Reuters):
- Married couple won't pay taxes on the first $24,000 they earn under Trump plan
- Administration will repeal alternative minimum tax under Trump plan
- Trump plan will protect home ownership tax benefit, but will eliminate most other breaks
- Trump plan also will protect charitable giving and retirement savings tax benefits
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