Trump to Cut Income Taxes for Middle Class

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income-tax-491626_1280Presidential candidate Donald Trump announced plans recently that would increase the number of Americans who would not be subject to federal income taxes.

The Republican presidential candidate said nearly 50% of Americans would pay no income taxes under the tax proposal he unveiled Monday.

He would create a new 0% tax rate and expand the income bracket that falls into it to $25,000 for singles and $50,000 for married couples.

Trump’s proposal says it eliminates tax liability for more than 73 million households and takes nearly 50% of current filers off the income tax rolls entirely.

“If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you will not owe any income tax,” Trump’s proposal states. “That removes nearly 75 million households — over 50% — from the income tax rolls.”

Find out more at CNN Money.

Photo courtesy of: stevepb