US President Donald Trump promises to reduce corporate profit taxes.
“We will lower tax (rate) for companies to 15-20% from 35-38%”, Trump said in the interview to Fox News, RIA News reports.
“This will be the largest reduction of taxes since Reagan times, maybe higher than on Reagan’s watch”, Trump added. RonaldReaganwasUSPresidentbetween 1981-1989.
Trump repeatedly promised to implement a tax reform; however, he did not promulgate its target indicators yet. The Republicans consider that the tax reduction will reduce the load on business and allow creating new jobs, and the losses in the tax collection rate will be compensated due to the growth of the taxable base. The democrats consider that the tax reduction will reduce budget revenues as well as increase the deficit and debt.
