Republican presidential nominee Donald Trump revealed the newest details of his tax plan on Sept. 15. (Peter Stevenson/The Washington Post)Republican presidential nominee Donald Trump revealed the newest details of his tax plan on Sept. 15. (Peter Stevenson/The Washington Post)Donald Trump unveiled a scaled back tax plan on Thursday, which is projected to add less to the federal debt but also to deliver fewer benefits to taxpayers than his original proposal. The Tax Foundation said the updated tax plan, after accounting for increased economic growth, would cost the government $2.6 trillion in lost tax revenue over a decade, down from $10 trillion for his initial plan. It would reduce the number of federal tax brackets from seven to three, with rates of 12 percent, 25 percent and 33 percent, accordingly.

Source: Washington Post September 15, 2016 21:56 UTC