This afternoon, the Wall Street Journal reported that Donald Trump will seek to reduce the tax rate for “pass-through” businesses, such as the businesses he owns, to 15%. This comes a day after the WSJ confirmed that Trump will also seek to lower the corporate tax rate to 15%.
Statement from Frank Clemente, Executive Director of Americans for Tax Fairness:
“Yesterday we learned President Trump wants to slash the corporate tax rate even though corporations already dodge most of their tax responsibilities while making record profits. Today, we find out it’s even worse. In trying to slash taxes for ‘pass-through’ business entities, Trump is seeking to dramatically reduce his own tax bill, while at the same time refusing to show the American people what he already pays in taxes. Trump owns over 500 pass-through entities, and if he pays taxes now, he could make a windfall from this proposal.”