Washington, November 3 (RHC)-- U.S. President Donald Trump and Republicans in the House of Representatives have unveiled a long-promised proposal to reform America’s tax code that experts say is really more of a tax cut for the rich.
The bill introduced Thursday would permanently lower the corporate tax rate from 35 percent to 20 percent and also repeals the inheritance tax on multimillion-dollar estates.
An analysis by the Joint Committee on Taxation said the bill is heavily weighted toward business, which would receive about two-thirds of an estimated $1.5 trillion in cuts.
Republicans Unveil Tax Bill That Would Shower Billions upon Rich
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