2017/04/26 | 22:11
(Encyclopedia of this Day News | Iraq News ) - Direct announced that US Treasury Secretary Stephen Mnon about the management plan under the chairmanship of US President "Donald Trump" to reform the tax system, which included cutting taxes on individuals and businesses pace is the largest in the history of the country.
He Mnon that the president has the goal is to create economic growth, noting that the United States aims to return to a growth rate of 3% or more of GDP, a sustainable level in the country.
He pointed out that the economic plan consists of tax cuts and reforms and substantial easing of legislation in addition to the re-negotiation of trade deals, which will launch a process of economic growth, which stopped for a while in the country.
He explained, "Mnon" that tax reforms are also aimed to provide millions of jobs for Americans and to facilitate the tax burden on families, especially middle-income. Treasury Secretary explained that the reduction of taxes on individuals includes three segments ranging between 10% and 25% and 35%, while reducing the tax burden of families with children that are suffering in the care of their children's expenses. With respect to taxes on companies, include proposals "Trump" cut corporate tax to 15% tax and one-time trillions of dollars held by companies in foreign accounts.
He said Secretary of the Treasury to restore the level of 20% for capital gains is important for the country in the coming period, as it will have a competitive tax return money from abroad.
The Treasury Secretary said on Wednesday in a news forum in Washington that "the largest tax cut" plan in the history of the United States due to be announced by the White House later on Wednesday will cut corporate tax to 15%, including small businesses.
According Mnotchen in a news forum in Washington, "This will be the largest tax cut and the biggest tax reform in the history of our country."