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Tax Reform: What Trump's Proposed Tax Plan Means for Hoosiers

Ball State University Professor of Economics Dr. Mike Hicks Joins Tony Katz to Discuss

(photo credit:Brendan Smialowski/Getty Images)

President Trump laid out the details of his tax-reform plan in a speech at the state fairgrounds Wednesday. 

Trump's proposal cuts corporate taxes by nearly one half, slashes taxes on small business to 25%, and abolishes the inheritance tax. In addition, the President's plan would reduce the current seven tax brackets to three: 12%, 25% and 35%, although the the plan doesn't specify where the boundaries would be for each bracket. 

Also included in the plan is a doubling of the standard exemption for married couples to the first $24,000 earned versus the current $12,000.

Ball State University Professor of Economics, Dr. Mike Hicks joined WIBC host Tony Katz on his Thursday broadcast  to discuss the details of the new tax proposal and how it will impact those in the Hoosier state. Click the link below to hear the interview in its entirety:

 

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