President Trump Unveils Bold Tax Plan to Boost Middle Class and Rein In the Ultra-Wealthy
In a major policy announcement, White House Press Secretary Karoline Leavitt introduced President Trump’s latest tax proposal—an ambitious plan designed to ease the financial burden on working-class Americans while ensuring the ultra-wealthy pay their fair share.
The proposal delivers targeted relief for service workers, retirees, and hardworking Americans putting in extra hours. It calls for the elimination of federal taxes on tips, Social Security benefits, and overtime pay—measures that could significantly increase take-home income for millions.
At the same time, the plan takes aim at long-standing tax loopholes that have favored the super-rich, including hedge fund managers and professional sports team owners. Key reforms include closing the controversial carried interest loophole and lowering the corporate tax rate to 15% for domestic manufacturers—a move intended to revitalize American industry and create jobs at home.
With this proposal, the Trump administration signals a sharp pivot toward middle-class empowerment and economic fairness.
