Trump's tax plans to be made public Wednesday - UOB

Ross J Burland FXStreet

Analysts at UOB Group noted that Trump on Wednesday plans to make public the broad outlines of what he wants to change in the tax code, though explained the details will likely be left until later negotiations among congressional leaders and officials from Treasury.

Key Quotes:

"Trump has instructed advisers to propose cutting the corporate tax from 35% to 15%, according to White House officials who said they are not authorized to speak publicly about the plan."

"The rate reduction – which independent budget experts say could cost the federal government $2.4tn over a decade – is larger than what House Republicans had proposed in their own plan."

"The tax plan release will come in the middle of a busy week in which the White House and congressional leaders are working against a Saturday deadline to avoid a partial shutdown of the federal government. The last time the government shut down was 1-16 October, 2013."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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