Trump tells billionaires he’ll keep their taxes low at $50 milli

North Wildwood - Trump tells billionaires he’ll keep their taxes low at $50 million fundraising gala. While it skyrocketed the National Debt, Trump’s 2017 tax cut reduced income tax rates for the vast majority of Americans, including top earners. Many of its provisions are set to expire in 2025, including a break for owners of so-called pass-through businesses — entities that are not taxed because the profits flow through to the owners, who are individually taxed — that are favored by hedge funds, private equity partnerships and privately held companies.