Trump revises his tax plan, raises top rate
Detroit (CNN) — Donald Trump sought to get his stumbling campaign back on track Monday, unveiling a tax reform plan aligned with House Speaker Paul Ryan's policy agenda.
Trump's new proposal would reduce tax rates for most Americans and simplify the tax code, but the new rates Trump proposed mark an increase from those he proposed last year as he campaigned for the Republican nomination and touted his tax reform plan as offering the lowest income tax rates of any of his GOP opponents.
Trump's new proposal would more than halve the number of income tax brackets and bring rates down to 12%, 25% and 33%. Trump proposed drastically reducing federal income tax rates to 10%, 20% and 25% -- a proposal that nonpartisan groups assessed would add trillions of dollars to the national debt.
Americans in the top income bracket are currently taxed at 39.6%. Trump also vowed again Monday that the poorest Americans will have a zero tax rate, which he included in his initial proposal.
What's missing from the 2016 race: Inspiration
The Republican nominee, who was interrupted by protestors 14 times, unveiled his economic plan -- which included proposals beyond just tax reforms -- a week after he feuded with Ryan. The real estate mogul initially refused to endorse the speaker, who faces a primary Tuesday. But Trump ultimately backed Ryan on Friday after a tumultuous week of intra-party fighting.
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How will Trump pay for the tax cuts?