![Federal Tax News Post for September 29](https://www.tkocpa.com/wp-content/uploads/freshizer/fd3e2ffbd0589870523bc85882750235_09_29_17_673285624_FTNP_560x292_2-1146-395-c.jpg)
Federal Tax News Post for September 29
Critics see flaws in Trump tax plan. After the release of a “framework” for tax reform by the Trump administration, some critics voiced concerns about how the changes would affect the deficit. Senator Bob Corker (R-TN) said, “I’m not about to vote for any bill that increases our deficit, period.” Critics also cautioned that the proposed 20% income tax rate for pass-through businesses could be abused by wealthy individuals and certain partners, who could see substantial savings of large portions of their income unless Congress adds provisions to prevent abuse.