Trump sets 📋 tax plan once-in-a-generationopportunity

President Donald Trump on Wednesday unveiled a Republican framework for tax reform that calls for sweeping tax cuts and a simplification of the tax code, framing the effort in a speech as a historic opportunity.

"This is a once-in-a-generation opportunity, and I guess it's probably something I could say that I'm very good at," Trump said during remarks in Indiana. "I've been waiting for this for a long time.

We're going to cut taxes for the middle class, make the tax code simpler and more fair for everyday Americans. And we are going to bring back the jobs and wealth that have left our country and most people thought left our country for good." 

Trump in recent weeks has sought to crank up public pressure on the need for sweeping tax reform. In Indianapolis, he offered specific numbers to back up his calls for the biggest changes to the tax code in decades. 

He called for reducing the personal income tax brackets from seven to three (12%, 25% and 35%), doubling the standard deduction for married and single filers (to $24,000 and $12,000 respectively), slashing the corporate tax rate to 20% and eliminating the estate tax -- among other proposals.

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