Congress could vote to pass the president’s sweeping tax reform package next week. Some highlights include:
- Cutting the top tax rate for the wealthiest Americans from 39.6 percent to 37 percent.
- Doubling the standard deduction, to $24,000 for married couples.
- Scaling back the deduction for state and local taxes, allowing families to deduct up to a total of $10,000 in property and income taxes.
- Repealing the mandate under Obamacare that requires most Americans to get health insurance
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