While Trump's promises of child care sound good on paper, in reality, Trump's child care plan could hurt the people who need it the most: A study conducted by the Center for American Progress found that Trump's proposed child care plan won't provide assistance to the communities that swung the vote in his favor - in places like the Midwest, northern Plains, and Appalachia - giving them, on average, just $5.55 to cover the cost of child care.
Trump's own tax returns - which Treasury Secretary Steve Mnuchin said Wednesday he has no plans to release - could weigh on the political wheeling and dealing ahead.
But if the proposals became law, an early look at the impact on the tax bills of Californians shows the implications could be profound.
Trump wouldn't own Trumpcare (or was it Ryancare?), but this tax overhaul is all him.
Seven tax brackets would be reduced to three, and for married couples no tax on the first $24,000 of income.
But it could also be hard for Republican lawmakers in high-tax states to vote for a bill that repeals the deduction. Others have noted the plan would allow Trump to cut his own tax bill by millions of dollars because he files his taxes on his extensive business holdings through his personal income taxes. The right-learning Tax Foundation estimated that, even after accounting for growth, the Trump campaign plan would put a $2.6 to $3.9 trillion hole in the budget over 10 years.
There were reports of the administration planning to remove the tax deductions on 401K plans.
But it would also eliminate all deductions expect for mortgage and charitable deductions.
"It's not tax reform", said one senior GOP aide.
It could also be a blow to the home-buying industry.
But if the state and local deductions are eliminated, those who have taken advantage of them might not see increased taxes.
"Our whole housing market is intertwined by those tax deductions", she said. "They'd leave the state".
Sessions' Hawaii remark 'really weird — Blumenthal
One writer hoped Sessions would take a "three-hour" tour, when he could presumably get lost on "Gilligan's Island". Heavily urbanized, militarized and, as a result, heavily polluted, Hawaii remains a top tourist attraction.
To people unfamiliar with the tax code, this proposal may sound reasonable. And even as the details remain to be filled out, there's much reason to doubt the plan's viability in Congress.
Trump also called for a repeal of the "alternative minimum tax", a parallel tax system that kicks in when taxpayers request many itemized deductions and rejects specific deductions, including for assorted real estate write-downs that Trump tapped in past years.
Some small business advocacy groups hoped the proposed changes bring relief to owners in the upper brackets, and in turn help their companies and the economy.
All five of the top overseas cash holders are tech companies, and four of them are headquartered in Silicon Valley, according to Moody's.
Mark Tuscherer, whose company designs websites and apps, would like to use possible tax savings for a hire, but plans to wait and see how his business is doing if and when lower rates take effect.
Tax cuts that expire in a decade could cause another USA fiscal crisis like the one in 2012, when tax cuts passed under George W. Bush expired. Japan's Nikkei dipped 0.1 percent.
"In calling for competitive tax rates and moving toward a modern worldwide tax system, the President's proposal reflects the most important elements that must belong to any pro-growth reform", Mark A. Weinberger, global chairman and CEO of Ernst & Young and chairman of the Business Roundtable Tax and Fiscal Policy Committee, said in a statement. "What this is not going to be is a loophole to let rich people who should be paying higher rates pay 15 percent".
At a White House news conference to roll out the administration's tax cut proposal, journalists peppered Mnuchin with questions about Trump's refusal to release his tax returns, which has been standard practice for every president and major presidential candidate for at least the past four decades.
"That's a big deal", Jones said.
Under pressure from shareholders, listed companies have set high targets for return on invested capital. "About 27 percent goes to the bottom 90 percent of households".
President Trump's tax plan is aimed at slashing the burden for individual taxpayers.
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