Local News

How much will the Trump tax reform plan cost? That’s one of the key questions says Mark Gebhards, the Executive Director of Governmental Affairs for the Illinois Farm Bureau.



Trump’s plan calls for three federal income tax brackets, 12 percent, 25 percent and 35 percent, but it’s unclear at this time which incomes will fall into each tax bracket. As for the corporate tax rate, the Trump plan calls for a 15-percent reduction, from 35 percent to 20 percent.

 
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