Trump's tax cut won't be the biggest in U.S. history

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tags: tax cuts, Trump

The president and his fellow Republicans in Congress propose cutting the top corporate tax rate to 20 percent from 35 percent. If they succeed, it would be the largest American corporate tax cut since the modern corporate tax began more than a century ago. 

As proposed by the Republicans, the corporate rate would fall 43 percent, compared with the second-largest such cut of 26 percent under Republican President Ronald Reagan in the 1980s. 

But on individual taxes, Trump's claim does not hold up, according to data on top personal income tax rates collected by the Tax Foundation, a Washington think tank. (For a graphic tracking U.S. tax rates, see: tmsnrt.rs/2z5Cv20)

Read entire article at Reuters

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