President Trump, GOP roll out tax plan; cuts rates, doubles dedu - KWWL - Eastern Iowa Breaking News, Weather, Closings

President Trump, GOP roll out tax plan; cuts rates, doubles deduction

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WASHINGTON (AP) - President Donald Trump and congressional Republicans are rolling out a sweeping plan to cut taxes for individuals and corporations, simplify the tax system, and likely double the standard deduction used by most Americans.

Months in the making, the plan meets a political imperative for Republicans to deliver an overhaul of the U.S. tax code after the failure of the health care repeal.

The public reveal of the plan was set for Wednesday. The day before, details emerged on Capitol Hill while Trump personally appealed to House Republicans and Democrats at the White House to get behind his proposal.

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