Trump proposal slashes taxes on businesses, the rich amid deficit worries

WASHINGTON (Reuters) – President Donald Trump on Wednesday proposed the biggest U.S. tax overhaul in three decades, offering to cut taxes for most Americans but prompting criticism that the plan favors the rich and companies and could add trillions of dollars to the deficit.

The proposal, which the Republican president said was aimed at helping working people and creating jobs, faces an uphill battle in Congress with Trump’s own party divided and Democrats hostile.

Source: Trump proposal slashes taxes on businesses, the rich amid deficit worries

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