三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
World
Home / World / Americas

Trump's administration unveils tax cut principles

Xinhua | Updated: 2017-04-27 08:49
Trump's administration unveils tax cut principles

US Secretary of the Treasury Steven Mnuchin discusses the Trump administration's tax reform proposal in the White House briefing room in Washington, US, April 26, 2017. [Photo/Agencies]

WASHINGTON - US President Donald Trump's administration on Wednesday unveiled the principles of the long-awaited tax reform plan that will significantly cut income taxes for Americans and corporates, ahead of the administration's first 100 days in office.

The plan would reduce the number of personal income tax brackets to three from seven, and it would cut the top individual income tax rate to 35 percent from 39.6 percent, Gary Cohn, director of the White House National Economic Council (NEC), said at a press briefing at the White House.

At the same time, the plan would cut the corporate income tax rate to 15 percent from 35 percent, and it would also impose a one-time tax on overseas profits of US companies, US Treasury Secretary Steven Mnuchin said at the same press briefing.

That "will bring back trillions of dollars that are offshore to be invested here in the United States, to purchase capital and to create jobs," he said.

The plan would also eliminate all tax deductions for individuals except from mortgage interests and charitable tax deductions, according to Mnuchin.

"We have a once-in-a-generation opportunity to do something really big," Cohn said, noting President Donald Trump has made tax reform a priority and the Republican-controlled Congress also wants to get it done.

"We are determined to move as fast as we can and get this done this year," Mnuchin added.

However, it's still unclear whether the plan, what US officials called the "biggest tax cut" in US history, would be revenue-neutral or would significantly increase US fiscal deficits.

Mnuchin has repeatedly argued that the administration would count on the compounding effect of strong economic growth over the next decade to finance the tax cuts.

"This will pay for itself with growth and with reduction of different deductions and closing loopholes," he said.

However, many economists are skeptical about that argument, as the US economic growth will average about only 1.9 percent over the next ten years, according to the nonpartisan Congressional Budget Office.

"In order for a corporate income tax cut to 15 percent to be self-financing, it would have to raise the level of growth to 2.8 percent on average," said Alan Cole, an economist at the Tax Foundation, adding most economic models would not expect the tax cuts to boost US growth by additional 0.9 percentage points over the 10-year budget window.

The details of a complete tax proposal probably won't be ready until June, according to Mick Mulvaney, director of the White House Office of Management and Budget.

"You can either have a small tax cut that's permanent or a large tax cut that is short-term. I don't think we decided that," Mulvaney told Fox News on Sunday.

 

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 一级特黄aa大片一又好看 | 日韩毛片视频 | 美女毛片在线看 | 国产精品一区91 | 亚洲色图国产 | 国产欧美亚洲精品 | 久久精品欧美一区二区 | 国产成人自拍在线 | 国产免费高清视频在线观看不卡 | 成人国产精品视频 | 国产小妹 | 国产成人综合久久精品红 | 小明成人永久免费观看视频 | 97国内免费久久久久久久久久 | 亚洲巨乳在线 | 久久香蕉国产线看观看精品蕉 | 欧美精品一区二区三区免费播放 | 国产精品乳摇在线播放 | 粉嫩极品国产 | 日本最新免费网站 | 亚洲黄色一级毛片 | 日本九九视频 | 久久影视一区 | 日韩爽爽视频爽爽 | 日韩在线视精品在亚洲 | 亚洲特黄大黄一级毛片 | 女人帮男人橹的视频网站 | 免费黄色网址大全 | 精品中文字幕制服中文 | 国产小视频精品 | 原创国产视频 | 成人情趣视频无遮掩免费 | 麻豆传媒在线完整视频 | 国产伦精品一区二区三区网站 | 麻豆视频在线免费看 | 麻豆传媒免费视频 | 欧美成人免费在线视频 | 美女被免费网站91 | 三个黑人强一个女人视频 | 91精品日韩 | 最新国产网址 |