GOP Proposal Caps Top Income Tax Bracket At 25%

Law360, New York (February 25, 2014, 4:06 PM EST) -- The Republican vision for tax reform includes a cut for the nation’s top income bracket and a reduction in the number of brackets from seven to just two, according to a report Tuesday.

The proposal is set to be released Wednesday by House Ways and Means Committee Chairman Dave Camp, but an analysis from the congressional Joint Committee on Taxation was leaked to the Washington Post on Tuesday.

The leaked proposal includes traditional Republican ideas like a lowered maximum tax rate and tax relief for those...
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