President Trump promised drastic tax cuts Wednesday as he touted Republicans' newly unveiled tax reform plan, arguing the push to re-write the tax code would fuel “America’s economic comeback.”“These tax cuts are significant,” the president said during a speech at the Farm Bureau Building in Indianapolis. “There’s never been tax cuts like we’re talking about.”Republicans earlier Wednesday released the framework of their plan that was hammered out by House and Senate lawmakers in coordination with the Trump administration. READ THE GOP TAX PLAN FRAMEWORKThe plan would simplify the tax system, cut rates and nearly double the standard deduction used by most Americans. “We have a wonderful senator, a great, great senator, who is a yes vote,” Trump said. Congressional Republicans describe this as creating a larger “zero tax bracket.”The plan also collapses the number of personal tax brackets from seven to three.

Source: Fox News September 27, 2017 20:25 UTC