Trump to announce tax cuts, but will keep many deductions

Reuters Trump is expected to announce a series of tax cuts Thursday, the White House said.

The plan will keep several deductions, including mortgage interest, charitable contributions and state and local taxes, the officials said.

But it will eliminate the estate tax and the estate and gift taxes.

Trump also will keep the popular child tax credit, and he will reduce the number of tax brackets to 10, from 12.

Trump, who has pledged to cut taxes, is also expected to provide additional relief for middle-class Americans.

Related Post