Introduce Middle Class Tax Relief And Simplification Act
Current Status: BrokenAs of
"I will work with Congress to introduce the following broader legislative measures and fight for their passage within the first 100 days of my Administration:
1. Middle Class Tax Relief And Simplification Act. An economic plan designed to grow the economy 4% per year and create at least 25 million new jobs through massive tax reduction and simplification, in combination with trade reform, regulatory relief, and lifting the restrictions on American energy. The largest tax reductions are for the middle class. A middle-class family with 2 children will get a 35% tax cut. The current number of brackets will be reduced from 7 to 3, and tax forms will likewise be greatly simplified. The business rate will be lowered from 35 to 15 percent, and the trillions of dollars of American corporate money overseas can now be brought back at a 10 percent rate."
- "Donald Trump's Contract With The American Voter," October 2016
Congressional Republicans at the onset of the administration were eager to pass tax reform, and their proposals shared a lot of common ground with Trump's plan. The nonpartisan Tax Policy Center estimated that the plan would cut revenues significantly.
As of his 100th day in office, the Trump administration introduced no such legislation in this or any other matter.
Ultimately, the administration did not introduce it's own legislation, but allowed the Republican-led Congress to introduce tax changes as part of a routine budget reconciliation measure, thus bypassing the requirement for a 60% majority to approve a full tax bill. Some of Trump's proposal's in this promise (see other promises in the Tax category) were addressed by the reconciliation bill, but with significant changes.
- Donald J. Trump Contract with the American Voter
- Here Is What Donald Trump Wants To Do In His First 100 Days
- How Hard (or Easy) It Will Be for Trump to Fulfill His 100-Day Plan
- Positions: Tax Plan
- H.R.1 - An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.