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November 8, 2017

GOP tax plan banking on ‘trickle-down' economics

By JOSH BOAK
AP Economics Writer

WASHINGTON — The House Republicans' tax-cut plan springs from a core argument: What's good for big business and the moneyed elite is inevitably good for the economy and everyone else.

Their plan would slash corporate tax rates, end inheritance taxes for the ultra-rich and create new tax advantages for business owners. To help pay for some of those breaks, the plan would end tax deductions for college loans, high medical bills, moving costs and state and local income taxes.


 
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