President Trump has introduced a new tax proposal, presented by White House Press Secretary Karoline Leavitt, designed to alleviate financial pressure on middle-class Americans. The plan aims to eliminate loopholes that have primarily benefited the ultra-wealthy, including hedge fund managers and professional sports team owners.
By proposing the removal of taxes on tips, Social Security benefits, and overtime pay, the plan seeks to provide much-needed relief for service workers, retirees, and individuals working extra hours. Key highlights of the proposal include closing significant tax loopholes—such as the carried interest loophole—and reducing the corporate tax rate to 15% specifically for domestic manufacturing.
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