Trump Exaggerates ‘Small Business’ Tax Cuts – FactCheck.org

President Donald Trump exaggerates when he describes a reduction in the top marginal rate for pass-through business income as a boost to small businesses and truckers.

  • The president claimed that “more than 30 million” small-business owners would get “a 40 percent cut in their marginal tax rate.” But only 670,000 taxpayers who report business income would earn enough to get that rate reduction.
  • Trump said “many American truckers who file taxes as sole-proprietors, S corporations or partnerships” will pay a “substantially lower” top tax rate. Truck drivers, or any other business owner, would have to earn more than $91,900 in taxable income to get a lower top tax rate, and more than $418,400 to see the kind of benefit Trump described.

Source: Trump Exaggerates ‘Small Business’ Tax Cuts – FactCheck.org

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