Trump to propose massive deductions in Americans taxes
On Wednesday, U.S President Trump plans to call for a significant increase in the standard deductions that people can claim on their tax returns. The proposed tax regime could potentially putting thousands of dollars each year into the pockets of millions of Americans, according to reports on the plan.
This change is one of several major changes to the federal tax code that the White House will propose when it provides an outline of the tax regime overhaul that Trump will make to Congress and the American people on Wednesday.
The markets are expected for a mixed US session open today and high volatility can be expected as soon as the proposed tax regime is announced.
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