President Trump’s latest tax proposal, unveiled by White House Press Secretary Karoline
Leavitt, aims to provide relief to middle-class Americans while closing loopholes that
have long benefited the ultra-wealthy, including hedge fund managers and sports team
owners.The plan seeks to ease financial burdens on service workers retirees,
and those clocking extra hours by eliminating taxes on tips, Social Security benefits,
and overtime pay.Key provisions include closing tax loopholessuch as the carried interest
loophole and reducing the corporate tax rate to 15% for domestic manufacturing.
