Trump’s plan cuts taxes, but not for everyone

Kimberly Adams Nov 17, 2016
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More than a year ago, President-elect Donald Trump gave a speech outlining his vision for tax reform at his skyscraper on Fifth Avenue in New York City. Andrew Burton/Getty Images

Trump’s plan cuts taxes, but not for everyone

Kimberly Adams Nov 17, 2016
More than a year ago, President-elect Donald Trump gave a speech outlining his vision for tax reform at his skyscraper on Fifth Avenue in New York City. Andrew Burton/Getty Images
HTML EMBED:
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A cornerstone of Donald Trump’s economic pitch was an overhaul of the U.S. income tax system. The president-elect plans to condense personal tax brackets from seven down to two, with the top rate maxing out at 33 percent — significantly lower than the current top brackets. But that doesn’t mean every American will get a break; under Trump’s proposal, some middle- and lower-income people could actually pay more in taxes.

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Editor’s note: The description of the audio content was updated to correct the number of tax brackets included in President-elect Donald Trump’s tax plan.

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