President Trump said he would release new details about his plan to overhaul the tax code on Wednesday, April 26. He hinted that his planned tax cuts for businesses and individuals will go further than the historic Reagan tax cuts in 1981 that slashed income, estate and businesses taxes and sparked an economic surge.
The President stated:
“This will be the most extensive tax reduction, I believe, in history, tax reform, combination of reduction as well. I used [to] say since Reagan, I think this will really go beyond. What’ we’re doing is going to be very dramatic it’s a very major reduction, it’s a very major simplification. We are going to be reducing taxes for business and individuals.”
Those words are music to the ears of the markets, businesses owners, and individuals across this country who have been waiting optimistically for President Trump’s tax reform plan to be implemented.