President Trump and GOP congressional leaders have outlined their plan for the most sweeping overhaul of the federal tax code in more than three decades.
They're proposing deep cuts in both individual and corporate tax rates, saying that will help supercharge a slow-growing economy, according to a document of the frameworkobtained by NPR's Tamara Keith.
"If we do this, we will create millions of new jobs for our people and bring many, many businesses back to our shores," Trump said Tuesday, on the eve of the rollout. He described the proposed overhaul as "massive tax cuts that our country desperately needs to thrive, to grow, to prosper."
The president plans to promote the tax plan Wednesday afternoon at the Indiana State Fairgrounds in Indianapolis.
While many of the details still have to be filled in, House and Senate GOP leaders have been meeting for months with the Treasury secretary and a top White House economic adviser to fashion a plan they can agree on.