Trump Tax Plan: Deep Cuts, No Way to Fund Them

Republicans on Wednesday proposed slashing tax rates for the wealthy, middle class and businesses, while also preserving popular tax deductions that encourage buying homes and giving to charity, according to a 9-page document obtained by The Washington Post. But the document, titled "Unified Framework For Fixing Our Broken Tax Code," leaves many key questions unanswered. In it, the White House and Republican congressional leaders do not identify the numerous tax breaks they say will be removed in order to offset some of the trillions of dollars in revenue lost by cutting tax rates. The White House and GOP leaders negotiated for months and so far have only agreed in large part on the taxes they want to cut.

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