Assessing the Trump and GOP Tax Plans

 – March 17, 2017
Assessing the Trump and GOP Tax Plans

President Trump’s tax plan for individuals and businesses has a lot in common with the House GOP plan but they differ in their approach to individual itemized deductions and charitable contributions as well as 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 the tables below, provided by the AICPA:    

Individual Income Tax Provisions - Trump vs. GOP



Business Tax Provisions - Trump vs. GOP