Trump proposes 15 percent business tax rate: White House summaryWASHINGTON (Reuters) - President Donald Trump on Wednesday proposed slashing the U.S. tax rate on corporate and pass-through business profits to 15 percent from 35 percent or more, while also offering tax cuts to average Americans in a rough outline of his tax policy goals. A one-page summary of his proposals, released at a White House briefing, said Trump also wants to reduce the number of tax brackets to three from seven, double the standard deduction that Americans can claim on their tax returns and repeal the estate tax and alternative minimum tax. Under U.S. law, only Congress can make major tax law changes. Lawmakers initially greeted Trump’s plan as a starting point for further discussion on overhauling the tax code. politicsNews
trump proposes percent business tax rate white house summarywashington reuters president donald trump wednesday proposed slashing tax rate corporate business profits percent percent also offering tax cuts average americans rough outline tax policy goals a summary proposals released white house briefing said trump also wants reduce number tax brackets three seven double standard deduction americans claim tax returns repeal estate tax alternative minimum tax under law congress make major tax law changes lawmakers initially greeted trump plan starting point discussion overhanging tax code politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Trump proposes 15 percent business tax rate: White House summaryWASHINGTON (Reuters) - President Donald Trump on Wednesday proposed slashing the U.S. tax rate on corporate and pass-through business profits to 15 percent from 35 percent or more, while also offering tax cuts to average Americans in a rough outline of his tax policy goals. A one-page summary of his proposals, released at a White House briefing, said Trump also wants to reduce the number of tax brackets to three from seven, double the standard deduction that Americans can claim on their tax returns and repeal the estate tax and alternative minimum tax. Under U.S. law, only Congress can make major tax law changes. Lawmakers initially greeted Trump’s plan as a starting point for further discussion on overhauling the tax code. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: trump proposes percent business tax rate white house summarywashington reuters president donald trump wednesday proposed slashing tax rate corporate business profits percent percent also offering tax cuts average americans rough outline tax policy goals a summary proposals released white house briefing said trump also wants reduce number tax brackets three seven double standard deduction americans claim tax returns repeal estate tax alternative minimum tax under law congress make major tax law changes lawmakers initially greeted trump plan starting point discussion overhanging tax code politicsnews