‘We’ll bring business down from 15% to 20% from 36% and 38%’
President Trump is vowing massive tax cuts even greater than seen during the Reagan Administration.
During an interview with Jesse Watters on Fox News, Trump pledged to pass a tax reform package that consolidated income brackets and slashed rates.
Here's an excerpt:
WATTERS: “The income tax rate, what are we talking about? What would you like to see the top rate be?”
TRUMP: “Well we're going to get a big reduction, we're going to bring business down from 15% to 20% from 36% and 38% and higher in some instances. We are the highest taxed nation in the world. And we are going to bring taxes way down. And for middle income, we're also getting rid of brackets. We are going from 7 to 4 or 3 brackets. And that will be such a pleasure."
WATTERS: "What would you like to see the brackets look like?"
TRUMP: "Well I would like to see zero if you don’t make much. Like zero, and that's what it's going to be, it's going to be zero up to a level. Then it's going be 12.5%, 15%. It's going to be 10 percent. We're working on the different numbers right now. It will be the biggest tax cut since Reagan and probably bigger than Reagan."
WATTERS: "Very good because I need the money."