Trump: Letting Top Rate Expire “Would Result in the Largest Small Business Tax Hike in History”

Trump: Letting Top Rate Expire “Would Result in the Largest Small Business Tax Hike in History”

President Trump campaigned against Kamala Harris’s tax plan to increase the top individual income tax rate to 39.6 percent. If the Trump tax cuts are allowed to expire, the top individual income tax rate will revert to the higher Obama-era level of 39.6 percent. When combined with the existing 3.8 percent Obamacare surtax, individually owned businesses could face a top tax rate hike to 43.4 percent. President Trump made this exact point while ri…

Trump could reveal stance on top tax rate by next week, says Hassett

White Home financial consultant Kevin Hassett stated the president will likely reveal in the coming days whether he believes the leading minimal tax rates on the nation’s greatest earners ought to increase when huge parts of the 2017 tax law end at the end of this year. Source: The Washington Times. The post Trump could reveal stance on top tax rate by next week, says Hassett appeared first on The New York Ledger.