| | Working poor people could owe no income tax, filing a return could get much simpler, and there would even be a new credit for caring for elderly relatives under a tax "framework" being proposed Wednesday by President Trump and Republican leaders in Congress. The plan cuts the top corporate tax rate dramatically and creates a new top rate for small businesses that is lower than the top rate for individuals. It also eliminates two taxes paid entirely by the rich, while taking away a deduction for state and local taxes that is used most heavily in some of the most wealthy, and Democrat-dominated, states. Here's a look at who benefits and loses under the plan and what still needs to be worked out, based on a plan distributed to House Republicans at a retreat away from Capitol Hill on Wednesday morning.
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