Assessing the Trump and GOP Tax Plans

 – May 9, 2017
Assessing the Trump and GOP Tax Plans

President Trump’s tax reform outline for individuals and businesses has a lot in common with the House GOP plan but they differ in their approach to individual tax brackets, standard deductions/exemptions, repatriation and what the corporate tax rate should be. While both are looking to repeal the Alternative Minimum Tax (AMT) and the estate tax, the House plan offers more specific details on individual investment income taxation and the amount of corporate tax repatriation. See updated tables below provided by the AICPA (as of May 9, 2017):    

Individual Income Tax Provisions - Trump vs. GOP

Business Tax Provisions - Trump vs. GOP
For more AICPA tax information, visit AICPA.org/tax reform.