Trump promises to simplify and streamline U.S. tax code

Reuters News
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Posted: Sep 28, 2015 11:44 AM

NEW YORK (Reuters) - Republican presidential front-runner Donald Trump on Monday promised to simplify the U.S. tax code and eliminate deductions and loopholes for special interest groups if he becomes president at the November, 2016 election.

Real estate mogul Trump said he would end deferred taxes on corporate income earned abroad, and eliminate the so-called death tax and marriage tax penalty.

In a news conference at Trump Tower in Manhattan, he vowed to reduce the number of tax brackets for individuals to four from seven.

"It's a tax reform that I think will make America strong and great again," Trump said, promising "major tax relief for middle income and most other Americans."

(Reporting by Emily Flitter; Additional reporting by Susan Heavey)