Taxes to be slashed in the States

On Wednesday, US president Donald Trump proposed a tax reform that includes cutting corporate taxes from 35% to 15%. Individuals would also see their income tax cut, with Mr Trump planning to reduce the seven existing brackets into just three, and to lower the top tax bracket from 39.6% to 35%. The reform is premised on the fact that tax cuts would lead to higher spending and economic growth, bringing jobs and prosperity to America.