Donald Trump lists tax cut proposal not yet passed into law among his greatest achievements as President
The President has not yet revealed a detailed tax reform plan to Congress
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Donald Trump has listed his proposed tax cut as one of his greatest achievements as President, even though he has not yet revealed a detailed tax reform plan to Congress.
In a speech to religious conservative activists in Washington, Mr Trump said he didn't think anyone had done more in their first 100 days of office, listing accomplishments such as the confirmation of Supreme Court justice Neil Gorsuch, and proposing a historically large tax cut.
Except Mr Trump’s economic adviser Gary Cohn said last week that the administration doesn’t intend to give Congress a comprehensive tax reform plan until September.
In April, the President introduced a more general proposal to cut the income tax rate for America's top earners by close to five per cent.
According to the White House, the proposal would also reduce the number of US tax brackets from seven to three; double the standard deduction Americans are able to claim on their tax returns; and includes a “massive tax cut” for businesses, with rates being slashed to 15 per cent.
Since Mr Trump became president in January, Congress has yet to pass a big-ticket policy item. The House of Representatives passed a bill last month to repeal and replace Obamacare, but the legislation appears to be facing more difficulties in the Senate.
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