(CNN) President Donald Trump on Wednesday unveiled a Republican framework for tax reform that calls for sweeping tax cuts and a simplification of the tax code, framing the effort in a speech as a historic opportunity. 
 
 "This is a once-in-a-generation opportunity, and I guess it's probably something I could say that I'm very good at," Trump said during remarks in Indiana. "I've been waiting for this for a long time. We're going to cut taxes for the middle class, make the tax code simpler and more fair for everyday Americans. And we are going to bring back the jobs and wealth that have left our country and most people thought left our country for good." 
 
 Trump in recent weeks has sought to crank up public pressure on the need for sweeping tax reform. In Indianapolis, he offered specific numbers to back up his calls for the biggest changes to the tax code in decades. 
 
 He called for reducing the personal income tax brackets from seven to three (12%, 25% and 35%), doubling the standard deduction for married and single filers (to $24,000 and $12,000 respectively), slashing the corporate tax rate to 20% and eliminating the estate tax -- among other proposals. 
 
 Trump sought to give the Republican-crafted framework a populist touch, framing the tax reform proposal as a boon for the middle class, American workers and American manufacturing. 
 
 The President said his tax cut proposal wouldn't help the country's wealthiest taxpayers, like himself, as he promised to strip away tax breaks and loopholes. 
 
 "It's not good for me, believe me," Trump said. 
 
 The claim was impossible to verify, though, as Trump has refused to release his tax returns. Trump is the first president in four decades not to do so. 
 
 Trump said that while wealthy, "well-connected" people could "call me all they want, it's not going to help," saying he was "doing the right thing." 
 
 The President's tax reform framework proposes cutting the top income tax bracket from 39.5% to 35%, though the plan gives congressional committees latitude to create a fourth, higher income tax bracket. 
 
 While Trump claimed parts of his tax proposal would hurt his wallet, he seemed sure the plan would bolster his popularity. 
 
 "What is good for me, not only as President and legacy, what is good for me is if everything takes off like a rocket ship," Trump said. "Like it should have for 20 years. That's good for me. That's good for everyone. And that's what I think is going to happen. And a lot of very wealthy people feel the same way, believe me." 
 
 Still, while the President focused on the benefits the tax proposal would deliver to middle class Americans, he made clear it would also be a boon for big business. 
 
 Beyond slashing the corporate tax rate to "no higher than 20%," Trump's proposal also offers write-offs for companies that move their manufacturing plants to the US and would incentivize the repatriation of "trillions" of dollars in US companies' profits stashed in tax havens overseas. 
 
 "Our framework will stop punishing companies for keeping their headquarters in the United States. We're punishing companies under our codes for being in the United States," Trump said. "When our companies move to other countries it's our loyal American workers who get hurt." 
 
 Trump said his business-friendly policies would lead to increased wages and economic gains in the US. The GOP framework would also cap the tax rate for small businesses at 25%, Trump said. 
 
 The framework is the result of months of closed-door discussions between top Trump administration officials and Republican congressional leaders, but Trump has signaled in recent weeks that he is hoping to win some Democratic support for his proposal. 
 
 Trump's trek to Indiana on Wednesday was the third time he has pitched tax reform in a red state that is home to a vulnerable Democratic senator, this time Sen. Joe Donnelly, who joined Trump for the speech. 
 
 JUST WATCHED Trump: I'm very good at cutting taxes Replay More Videos ... MUST WATCH Trump: I'm very good at cutting taxes 01:09 
 
 Trump took the opportunity to turn up the heat on Donnelly, who is up for reelection in 2018, warning him to support tax reform, or else. 
 
 "If Sen. Donnelly doesn't approve it -- because you know he's on the other side -- we will come here, we will campaign against him like you wouldn't believe," Trump said, pointing at Donnelly in the audience before suddenly offering a wide grin. "I think they're going to approve it, I think we'll have, actually I think we'll have numerous Democrats come across, because it's the right thing to do." 
 
 Trump added that "tax reform has not historically been a bipartisan issue," drawing on the example of the Reagan tax cuts which were passed with significant Democratic support as he said he hoped Democrats would join in supporting the reform effort. 
 
 Donnelly, who traveled with the President to his Indianapolis event said the framework is missing details. 
 
 "As it stands, the framework released today is missing many details that will be critical to determining whether working- and middle-class families truly stand to benefit," he said in a statement following the speech. 
 
 "I work for Hoosiers, not President Trump or any political party," he added. 
 
 Trump drew on the stories of ordinary Americans as he made his pitch, referring to a seventh-generation farmer to call for a repeal of the estate tax, drawing on the story of a small business owner as he calls for tax cuts and pulling from the experiences of an IT worker whom Trump said has seen firsthand the damage of the US' high corporate tax rate. 
 
 The GOP proposal, being presented jointly by the White House, House Ways & Means Committee and Senate Finance Committee, calls for reducing income tax rates to three brackets of 12%, 25% and 35%, but leaves the income ranges for those brackets up to tax committees, according to a copy of the Republican framework obtained by CNN. The proposal also gives committees the flexibility to create a fourth bracket that could potentially eliminate a potential tax cut for the wealthiest Americans. 
 
 The proposals also calls for doubling the standard deduction to $24,000 for married couples and $12,000 for single filers. 
 
 The framework also calls for slashing the corporate tax rate to 20%, though Trump has for months said he would like to see the 35% rate brought down to 15%. Trump sought to justify the shift on Wednesday, saying that he only floated 15% as a negotiating tactic. 
 
 "I wanted to start at 15 to get there," Trump said. 
 
 Trump's push on tax reform comes on the heels of his latest in a string of stinging defeats on health care reform, with Senate Republicans repeatedly failing to string together 50 votes to replace Obamacare. 
 
 The White House is now aiming to push tax reform through Congress by the end of the year. ||||| CLOSE Unveiling a new sweeping tax plan, U.S. President Donald Trump says it will benefit middle class workers the most and simplify the tax code. (Sept. 27) AP 
 
 President Trump speaks about tax reform in Indianapolis on Sept. 27, 2017. (Photo: Jenna Watson, The Indianapolis Star) 
 
 WASHINGTON — President Trump promised Wednesday to bring “revolutionary change” to the federal tax code that will help the middle class — and not the wealthy. 
 
 “They can call me all they want. It’s not going to help," Trump said of the well-to-do in a speech in Indianapolis. "I'm doing the right thing. And it’s not good for me, believe me.” 
 
 What would help both the country and his own legacy, Trump said, is when the economy "takes off like a rocket ship" after business taxes are dramatically cut. 
 
 The tax changes he outlined are the basis for a plan jointly agreed to with Republican congressional leaders. But Congress still has to fill in many important details before bringing to a vote legislation Trump hopes to sign before the end of the year. 
 
 The missing information will show if the plan lives up to Trump's claims, and how much the tax cuts would add to the deficit. 
 
 "Without sufficient details on how or even if these tax cuts will be fully paid for, this outline is nothing more than a fiscal fantasy," said Maya MacGuineas, head of the nonpartisan Committee for a Responsible Federal Budget. 
 
 Trump is seeking a much-needed win as he recovers from Republicans’ failure to repeal Obamacare and the loss of Luther Strange, Trump’s chosen candidate in Tuesday's Alabama Senate primary. 
 
 "This is a once-in-a-generation opportunity," Trump said of the tax plan. "I guess it’s probably something I can say I’m very good at. I’ve been waiting for this for a long time." 
 
 Trump gave what for him was a controlled speech, staying mostly on topic and avoiding such issues as the Alabama race, the NFL anthem protests, or North Korea. 
 
 And he refrained from lashing out at specific Republicans for the failure of the GOP health care bill, saying “There were a couple of people that — I won’t say anything.” 
 
 Read more: 
 
 How President Trump's tax plan affects you, and what we still don't know about it 
 
 Here are 5 reasons Trump and Congress are struggling with tax reform 
 
 Trump plans to enlist grassroots and Democrats to sell tax plan he will call biggest in history 
 
 The proposed tax changeshe promoted include slashing the individual tax rates and reducing the corporate tax rate to "below the average of other industrialized nations." That, he said, would be "a revolutionary change, and the biggest winners will be the every day American workers as jobs start pouring into our country, as companies start competing for American labor, and as wages continue to grow." 
 
 On the individual side of the tax code, working poor people could owe no income tax. Filing a return could get much simpler. And there would even be a new credit for caring for elderly relatives. 
 
 Republicans also want to eliminate two taxes paid entirely by the rich and take away a deduction for state and local taxes that is used most heavily in some of the most wealthy, and Democrat-dominated, states. 
 
 Senate Minority Leader Chuck Schumer, D-N.Y., said the framework released Wednesday “at best throws crumbs for some middle class people.” 
 
 “Has the president read his plan?” Schumer asked. 
 
 Just arrived in Indianapolis, Indiana to make an announcement on #TaxReform! Together, we are going to MAKE AMERICA GREAT AGAIN! pic.twitter.com/Dy9UwhkWHL — Donald J. Trump (@realDonaldTrump) September 27, 2017 
 
 One Democrat who has said he’s willing to listen to Trump’s ideas is Indiana Sen. Joe Donnelly, who flew to the speech with the president on Air Force One. 
 
 Donnelly, one of Republicans’ best chances of expanding their narrow Senate majority in next year’s elections, was also one of only three Democratic senators who did not sign onto an August letter sent by Democratic leaders outlining what conditions must be met for the minority to support tax reform. 
 
 Most Democrats said they won’t support tax cuts for the wealthiest Americans and won’t vote for an overhaul that adds to the deficit. 
 
 Trump said tax reform doesn’t have to be a partisan issue. 
 
 But he issued a threat to Donnelly, saying if he doesn't vote for the tax plan, "we will come here and we will campaign against him like you wouldn't believe." 
 
 "I really believe we're going to have numerous Democrats come over," Trump said. "But they'll only do it if you, the American people, make your voices heard." 
 
 President Trump talks with a guest as Sens. Joe Donnelly, D-Ind., and Todd Young, R-Ind., walk off Air Force One on Sept. 27, 2017, in Indianapolis. (Photo: Darron Cummings, AP) 
 
 Donnelly said in a statement after the speech he needs the plan's details filled in before he can judge if workers and middle-class families will really benefit. 
 
 Robert James, president of the steelworkers union that represents Indiana workers at plants — including Carrier Corp. — which have recently laid off workers, said Wednesday the proposal won’t do anything to keep jobs in the United States. 
 
 “I don’t see it,” James said. “I don’t think this is something that benefits the people.” 
 
 Trump’s visit to Indiana is his first since going in December to announce a deal with Carrier Corp. — a company he talked about frequently on the campaign trail — to keep some jobs in Indiana instead of moving them to Mexico. 
 
 Read more: 
 
 Democrats oppose GOP tax framework, but can they stop it? 
 
 Indiana is the 25th state President Trump has visited since taking office 
 
 3 Indiana businessmen to help Trump make his case for tax reform package 
 
 Trump chose Indiana for Wednesday’s speech in part to talk about the state’s record of cutting taxes under then-governor Mike Pence, who is now his vice president. 
 
 "Indiana is a tremendous example of the prosperity that is unleashed when we cut taxes and set free the dreams of our citizens,” Trump said. 
 
 Since 2011, Indiana has eliminated the inheritance tax, cut corporate and financial institution taxes and reduced the flat personal income tax by 5%. 
 
 "It’s the Hoosier Way, and we’re about to take it national,” said Indiana GOP Chairman Kyle Hupfer. 
 
 While conservatives have praised the cuts, some economists have seen them and the subsequent increase in Indiana's gas tax as a shift of the tax burden to Indiana's middle class. 
 
 Indiana Democratic Party Chairman John Zody said Wednesday the “historic” tax relief Pence promised Hoosiers “only added up to a paltry $50 per household last year — barely enough for one tank of gas.” 
 
 Trump highlighted how the proposal would benefit individual Hoosiers, including Kip Tom, a seventh-generation farmer who was on Trump’s agriculture advisory committee. The Tom family claims that under current estate taxes, they may have to sell off a significant amount of assets in order to pass the business to the next generation. 
 
 "Now if you don’t like your family, it won’t matter," Trump said about repealing what he called the "crushing, horrible, unfair" estate tax. "But for those that love your family, it matters a lot." 
 
 Democrats say repealing the estate tax is one of the several ways the tax overhaul would benefit the wealthy, pointing out that it only affects the small portion of estates worth more than $5.5 million. 
 
 National polls show tax reform isn’t a high priority for many Americans. Only 12% of adults surveyed this month for CNN said changing federal tax law should be Congress' highest priority over the next few weeks. But most said the code either needs a complete overhaul or major changes. 
 
 The Pew Research Center has found in recent years that most Americans think they’re paying about the right amount of taxes. Their top frustration is that some corporations and the wealthy don’t pay their fair share. 
 
 Contributing: Herb Jackson, Heidi Pryzbyla, Kaitlin Lange and Tony Cook. 
 
 Read or Share this story: https://usat.ly/2xC0keX ||||| y/J, 
 
 TAX 
 
 EF 
 
 MOREjobsl FAIRER taxesl BIGGER paychecks 
 
 
 
 
 
 
 
 
 
 UNIFIED FRAMEWORK 
 
 FOR FIXING 
 
 OUR BROKEN TAX CODE 
 
 SEPTEMBER 27, 2017 
 
 OVERVIEW 
 
 It is now time for all members of Congress a Democrat, Republican 
 
 and Independent a to support pro-American tax reform. Itas time 
 
 for Congress to provide a level playing field for our workers, to bring 
 
 American companies back home, to attract new companies and businesses 
 
 to our country, and to put more money into the pockets of everyday 
 
 hardworking people. 
 
 President Donald J. Trump Milwaukee Journal Sentinel September 3, 2017 
 
 President Trump has laid out four principles for tax reform: First, make the tax code simple, fair 
 
 and easy to understand. Second, give American workers a pay raise by allowing them to keep more 
 
 of their hard-earned paychecks. Third, make America the jobs magnet of the world by leveling the 
 
 playing field for American businesses and workers. Finally, bring back trillions of dollars that are 
 
 currently kept offshore to reinvest in the American economy. 
 
 The Presidentas four principles are consistent with the goals of both congressional tax-writing 
 
 committees, and are at the core of this framework for fixing Americaas broken tax code. 
 
 Too many in our country are shut out of the dynamism of the U.S. economy, which has led to 
 
 the justifiable feeling that the system is rigged against hardworking Americans. With significant 
 
 and meaningful tax reform and relief, we will create a fairer system that levels the playing field 
 
 and extends economic opportunities to American workers, small businesses, and middle-income 
 
 families. 
 
 The Trump Administration and Congress will work together to produce tax reform that will put 
 
 America first. 
 
 2 
 
 GOALS 
 
 The Trump Administration, the House Committee on Ways and Means, and the Senate Committee 
 
 on Finance have developed a unified framework to achieve pro-American, fiscally-responsible 
 
 tax reform. This framework will deliver a 21st century tax code that is built for growth, supports 
 
 middle-class families, defends our workers, protects our jobs, and puts America first. It will deliver 
 
 fiscally responsible tax reform by broadening the tax base, closing loopholes and growing the 
 
 economy. It includes: 
 
 Tax relief for middle-class families. 
 
 The simplicity of apostcarda tax filing for the vast majority of Americans. 
 
 Tax relief for businesses, especially small businesses. 
 
 Ending incentives to ship jobs, capital, and tax revenue overseas. 
 
 Broadening the tax base and providing greater fairness for all Americans by closing 
 
 special interest tax breaks and loopholes. 
 
 This unified framework serves as a template for the tax-writing committees that will develop 
 
 legislation through a transparent and inclusive committee process. The committees will also 
 
 develop additional reforms to improve the efficiency and effectiveness of tax laws and to effectuate 
 
 the goals of the framework. The Chairmen welcome and encourage bipartisan support and 
 
 participation in the process. 
 
 3 
 
 TAX RELIEF AND SIMPLIFICATION FOR AMERICAN FAMILIES 
 
 Over the last decade too many hard-working Americans have struggled to find good-paying jobs, make 
 
 ends meet, provide for their families and plan for their retirement. They are the focus of this framework. 
 
 Strengthening and growing the middle class, and keeping more money in their pockets, is how we build 
 
 a stronger America. By lowering the tax burden on the middle class, and creating a healthier economy, 
 
 we can give American families greater confidence and help them get ahead. At the same time, taxpayers 
 
 deserve a system that is simpler and fairer. Americaas tax code should be working for, not against, middleclass families. 
 
 aZERO TAX BRACKETa 
 
 Under the framework, typical middle-class families will see less of their income subject to federal 
 
 income tax. 
 
 The framework simplifies the tax code and provides tax relief by roughly doubling the standard 
 
 deduction to: 
 
 $24,000 for married taxpayers filing jointly, and 
 
 $12,000 for single filers. 
 
 To simplify the tax rules, the additional standard deduction and personal exemptions for the taxpayer 
 
 and spouse are consolidated into this larger standard deduction. This change is fundamental to a 
 
 simpler, fairer system. 
 
 In combination, these changes simplify tax filing and effectively create a larger azero tax bracketa by 
 
 eliminating taxes on the first $24,000 of income earned by a married couple and $12,000 earned by a 
 
 single individual. 
 
 INDIVIDUAL TAX RATE STRUCTURE 
 
 Under current law, taxable income is subject to seven tax brackets. The framework aims to consolidate 
 
 the current seven tax brackets into three brackets of 12%, 25% and 35%. 
 
 Typical families in the existing 10% bracket are expected to be better off under the framework due 
 
 to the larger standard deduction, larger child tax credit and additional tax relief that will be included 
 
 during the committee process. 
 
 An additional top rate may apply to the highest-income taxpayers to ensure that the reformed tax code 
 
 is at least as progressive as the existing tax code and does not shift the tax burden from high-income to 
 
 lower- and middle-income taxpayers. 
 
 The framework also envisions the use of a more accurate measure of inflation for purposes of indexing 
 
 the tax brackets and other tax parameters. 
 
 4 
 
 ENHANCED CHILD TAX CREDIT AND MIDDLE CLASS TAX RELIEF 
 
 To further simplify tax filing and provide tax relief for middle-income families, the framework 
 
 repeals the personal exemptions for dependents and significantly increases the Child Tax Credit. 
 
 The first $1,000 of the credit will be refundable as under current law. 
 
 In addition, the framework will increase the income levels at which the Child Tax Credit begins 
 
 to phase out. The modified income limits will make the credit available to more middle-income 
 
 families and eliminate the marriage penalty in the existing credit. 
 
 The framework also provides a non-refundable credit of $500 for non-child dependents to help 
 
 defray the cost of caring for other dependents. 
 
 Finally, the committees will work on additional measures to meaningfully reduce the tax burden on 
 
 the middle-class. 
 
 INDIVIDUAL ALTERNATIVE MINIMUM TAX (AMT) 
 
 The nonpartisan Joint Committee on Taxation (JCT) and the Internal Revenue Service (IRS) 
 
 Taxpayer Advocate have both recommended repealing the AMT because it no longer serves its 
 
 intended purpose and creates significant complexity. This framework substantially simplifies the 
 
 tax code by repealing the existing individual AMT, which requires taxpayers to do their taxes twice. 
 
 ITEMIZED DEDUCTIONS 
 
 In order to simplify the tax code, the framework eliminates most itemized deductions, but retains 
 
 tax incentives for home mortgage interest and charitable contributions. These tax benefits help 
 
 accomplish important goals that strengthen civil society, as opposed to dependence on government: 
 
 homeownership and charitable giving. 
 
 WORK, EDUCATION AND RETIREMENT 
 
 The framework retains tax benefits that encourage work, higher education and retirement 
 
 security. The committees are encouraged to simplify these benefits to improve their efficiency and 
 
 effectiveness. Tax reform will aim to maintain or raise retirement plan participation of workers and 
 
 the resources available for retirement. 
 
 5 
 
 OTHER PROVISIONS AFFECTING INDIVIDUALS 
 
 Numerous other exemptions, deductions and credits for individuals riddle the tax code. The 
 
 framework envisions the repeal of many of these provisions to make the system simpler and fairer 
 
 for all families and individuals, and allow for lower tax rates. 
 
 DEATH AND GENERATION-SKIPPING TRANSFER TAXES 
 
 The framework repeals the death tax and the generation-skipping transfer tax. 
 
 6 
 
 COMPETITIVENESS AND GROWTH FOR ALL JOB CREATORS 
 
 Small businesses drive our economy and our communities, and they deserve a significant tax cut. This 
 
 framework creates a new tax structure for small businesses so they can better compete. Furthermore, 
 
 Americaas outdated tax code has fallen behind the rest of the world a costing U.S. workers both jobs 
 
 and higher wages. In response, the framework puts Americaas corporate tax rate below the average of 
 
 other industrialized countries and promotes greater investment in American manufacturing. 
 
 TAX RATE STRUCTURE FOR SMALL BUSINESSES 
 
 The framework limits the maximum tax rate applied to the business income of small and familyowned businesses conducted as sole proprietorships, partnerships and S corporations to 
 
 25%. The framework contemplates that the committees will adopt measures to prevent the 
 
 recharacterization of personal income into business income to prevent wealthy individuals from 
 
 avoiding the top personal tax rate. 
 
 TAX RATE STRUCTURE FOR CORPORATIONS 
 
 The framework reduces the corporate tax rate to 20% a which is below the 22.5% average of the 
 
 industrialized world. In addition, it aims to eliminate the corporate AMT, as recommended by the 
 
 non-partisan JCT. The committees also may consider methods to reduce the double taxation of 
 
 corporate earnings. 
 
 aEXPENSINGa OF CAPITAL INVESTMENTS 
 
 The framework allows businesses to immediately write off (or aexpensea) the cost of new 
 
 investments in depreciable assets other than structures made after September 27, 2017, for at least 
 
 five years. This policy represents an unprecedented level of expensing with respect to the duration 
 
 and scope of eligible assets. The committees may continue to work to enhance unprecedented 
 
 expensing for business investments, especially to provide relief for small businesses. 
 
 INTEREST EXPENSE 
 
 The deduction for net interest expense incurred by C corporations will be partially limited. The 
 
 committees will consider the appropriate treatment of interest paid by non-corporate taxpayers. 
 
 7 
 
 OTHER BUSINESS DEDUCTIONS AND CREDITS 
 
 Because of the frameworkas substantial rate reduction for all businesses, the current-law domestic 
 
 production (asection 199a) deduction will no longer be necessary. Domestic manufacturers will see 
 
 the lowest marginal rates in almost 80 years. In addition, numerous other special exclusions and 
 
 deductions will be repealed or restricted. 
 
 The framework explicitly preserves business credits in two areas where tax incentives have proven 
 
 to be effective in promoting policy goals important in the American economy: research and 
 
 development (R&D) and low-income housing. While the framework envisions repeal of other 
 
 business credits, the committees may decide to retain some other business credits to the extent 
 
 budgetary limitations allow. 
 
 
 
 TAX RULES AFFECTING SPECIFIC INDUSTRIES 
 
 Special tax regimes exist to govern the tax treatment of certain industries and sectors. The 
 
 framework will modernize these rules to ensure that the tax code better reflects economic reality 
 
 and that such rules provide little opportunity for tax avoidance. 
 
 8 
 
 THE AMERICAN MODEL FOR GLOBAL COMPETITIVENESS 
 
 The framework puts America on a level international playing field and puts an end to the 
 
 incentives for shipping jobs overseas. 
 
 TERRITORIAL TAXATION OF GLOBAL AMERICAN COMPANIES 
 
 The framework transforms our existing aoffshoringa model to an American model. It ends the 
 
 perverse incentive to keep foreign profits offshore by exempting them when they are repatriated 
 
 to the United States. It will replace the existing, outdated worldwide tax system with a 100% 
 
 exemption for dividends from foreign subsidiaries (in which the U.S. parent owns at least a 10% 
 
 stake). 
 
 To transition to this new system, the framework treats foreign earnings that have accumulated 
 
 overseas under the old system as repatriated. Accumulated foreign earnings held in illiquid assets 
 
 will be subject to a lower tax rate than foreign earnings held in cash or cash equivalents. Payment 
 
 of the tax liability will be spread out over several years. 
 
 STOPPING CORPORATIONS FROM SHIPPING JOBS AND CAPITAL OVERSEAS 
 
 To prevent companies from shifting profits to tax havens, the framework includes rules to protect 
 
 the U.S. tax base by taxing at a reduced rate and on a global basis the foreign profits of U.S. 
 
 multinational corporations. The committees will incorporate rules to level the playing field between 
 
 U.S.-headquartered parent companies and foreign-headquartered parent companies. 
 
 9
– President Trump launched his push for tax reform Wednesday in Indianapolis, promising a "once-in-a-generation opportunity" and "revolutionary change." "Under our framework, we will dramatically cut the business tax rate so that American companies and American workers can beat our foreign competitors and start winning again," USA Today quotes Trump as saying. The New York Times reports the proposed framework reduces the corporate tax rate to 20%, doubles deductions for married and single filers to $24,000 and $12,000 respectively, and reduces the number of tax brackets from seven to three. The top bracket would see a reduced tax rate; the lowest bracket would see an increased tax rate. Overall, Trump claims the plan represents the biggest tax cut in history: "There's never been tax cuts like we're talking about." Trump is promising the middle class will be "the biggest winners" of his tax plan, which will cause "jobs to start pouring into our country." But the framework presented lacks details to show whether that would or would not be the case. (CNN reports Trump also claims the plan is "not good for me," but that's impossible to prove without his tax returns.) The framework does, however, include details that will specifically benefit rich Americans, for example by getting rid of inheritance taxes paid by the country's wealthiest families. Without further specifics, the head of the nonpartisan Committee for a Responsible Federal Budget calls Trump's tax plan "nothing more than a fiscal fantasy." Trump says he wants to work with Democrats to fill in those details, but Republican leaders say they'll likely use a special rule to pass tax reform without Democratic support.