Provisions such as the alternative minimum tax and the estate tax, a levy on inherited wealth that Mr. Trump has derided for years, would be gone under the Republican proposal. “This will be the lowest top marginal income tax rate for small and midsize businesses in this country in more than 80 years,” Mr. Trump said. “Let them know you’re waiting.”In an apparent nod to the harsh political realities the tax plan faces, Mr. Trump made an explicit overture to Democrats to support the plan. “Democrats and Republicans in Congress should come together, finally, to deliver this giant win for the American people,” Mr. Trump said. Studies of similar plans produced by Mr. Trump and House Republicans have been projected to cost $3 trillion to $7 trillion over a decade.

Source: New York Times September 27, 2017 14:21 UTC