Source: Johs Boak and Stephen Ohlemacher, WRAL, 4/26/17

Dismissing concerns about ballooning federal deficits, President Donald Trump on Wednesday proposed dramatic tax cuts for U.S. businesses and individuals — outlining an overhaul his administration promises will spur economic growth and simplify America's tangle of tax code rules.His proposal, a one-page sketch short on detail, would reduce the top corporate tax rate by 20 percentage points and allow private business owners to claim the new lower rate for their take-home pay.

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