President Trump’s latest tax proposal,
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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 l
oopholes—such as the carried interest loophole
and reducing the corporate
tax rate to 15% for domestic manufacturing
