(Washington, DC) — President Trump expects the Republican tax bill to pass by Christmas.
At the White House today, Trump said it will help bring back jobs and will simplify the complex tax code.
The plan sets up tax brackets of 12, 25 and 35 percent and caps the top rate at about 39-percent for the highest-earners.
It also almost doubles the standard deduction for middle-class families, putting it at 24-thousand for married couples and 12-thousand for individuals. House Republicans unveiled their proposal to overhaul the tax code today, setting the stage for a major battle on Capitol Hill.
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