President Trump unveils new tax plan - KFBB.com News, Sports and Weather

President Trump unveils new tax plan

Posted: Updated:
WASHINGTON, D.C. -

President Donald Trump traveled to Indiana Wednesday to unveil his new tax plan. 

This proposed tax reform bill will change the current taxable income brackets from seven to three. Under the proposed law, tax brackets will be broken down to 12%, 25%, and 35%. There would also be a "zero tax bracket" which would eliminate taxes on the first $24,000 of income earned by a married couple and $12,000 earned by a single individual. 

According to the bill's "Tax Blueprint," the framework eliminates most itemized deductions, but retains tax incentives for home mortgage interest and charitable contributions. 

This bill would also repeal the death tax and the generation-skipping transfer tax. 

You can view the bill's "Tax Blueprint" below for more information. 

This is a developing story. We will update this story with reaction from Montana & Wyoming congressional delegation. 

  • LocalMore>>

  • Billings apartment fire claims life

    Billings apartment fire claims life

    Sunday, October 21 2018 11:18 AM EDT2018-10-21 15:18:50 GMT
    Image License Photo: PxHereImage License Photo: PxHere
    Image License Photo: PxHereImage License Photo: PxHere

    The Billings Fire Department reports a fatality as a result of a late night fire Saturday. Deputy Fire Marshall Andrew McLain says the fire was reported at 2202 2nd Ave. North at 11:47 p.m. 

    The Billings Fire Department reports a fatality as a result of a late night fire Saturday. Deputy Fire Marshall Andrew McLain says the fire was reported at 2202 2nd Ave. North at 11:47 p.m. 

  • Final day at The NILE Stock Show and Rodeo

    Final day at The NILE Stock Show and Rodeo

    Saturday, October 20 2018 9:13 PM EDT2018-10-21 01:13:58 GMT

    Saturday was the final day of The NILE Stock Show and Rodeo.  It was another eventful day at The NILE. The trade show continued on all day, the Jr. Angus Sale was earlier Saturday morning, and Saturday afternoon was the Gold Buckle Select Performance Horse Sale.

    Saturday was the final day of The NILE Stock Show and Rodeo.  It was another eventful day at The NILE. The trade show continued on all day, the Jr. Angus Sale was earlier Saturday morning, and Saturday afternoon was the Gold Buckle Select Performance Horse Sale.

  • Moss Mansion gets haunted for Halloween

    Moss Mansion gets haunted for Halloween

    Saturday, October 20 2018 8:24 PM EDT2018-10-21 00:24:43 GMT

    Historic Moss Mansion has turned into an asylum for the coming weeks to celebrate the Halloween season.  The mansion will feature horror theater. Local actors will perform an asylum themed play on both floors of the Haunted Moss Mansion.  

    Historic Moss Mansion has turned into an asylum for the coming weeks to celebrate the Halloween season.  The mansion will feature horror theater. Local actors will perform an asylum themed play on both floors of the Haunted Moss Mansion.  

  • Most Popular

  • Most Popular StoriesMost Popular StoriesMore>>

  • Billings apartment fire claims life

    Billings apartment fire claims life

    Sunday, October 21 2018 11:18 AM EDT2018-10-21 15:18:50 GMT
    Image License Photo: PxHereImage License Photo: PxHere
    Image License Photo: PxHereImage License Photo: PxHere

    The Billings Fire Department reports a fatality as a result of a late night fire Saturday. Deputy Fire Marshall Andrew McLain says the fire was reported at 2202 2nd Ave. North at 11:47 p.m. 

    The Billings Fire Department reports a fatality as a result of a late night fire Saturday. Deputy Fire Marshall Andrew McLain says the fire was reported at 2202 2nd Ave. North at 11:47 p.m. 

  • Crow Chief Judge Leroy Not Afraid and Judge Kari Covers Up removed from office

    Crow Chief Judge Leroy Not Afraid and Judge Kari Covers Up removed from office

    Friday, October 19 2018 6:01 PM EDT2018-10-19 22:01:53 GMT

    This information just into our newsroom, Crow Nation Chief Judge Leroy Not Afraid, and Associate Judge Kari Covers Up have been removed from office by the Crow Legislative Branch. 

    This information just into our newsroom, Crow Nation Chief Judge Leroy Not Afraid, and Associate Judge Kari Covers Up have been removed from office by the Crow Legislative Branch. 

  • Missing People

    Missing People

    Friday, October 19 2018 8:59 PM EDT2018-10-20 00:59:32 GMT

    We have three reports of missing people that you need to hear about.

    We have three reports of missing people that you need to hear about.

  • Montana man gets 20-year sentence for stealing ATM, leading police on high-speed chase

    Montana man gets 20-year sentence for stealing ATM, leading police on high-speed chase

    Saturday, October 20 2018 2:53 PM EDT2018-10-20 18:53:40 GMT

    A Montana man has been convicted of burglary after he was accused of stealing an ATM from a Helena bar and restaurant, putting it in the back of a pickup and leading deputies on a high-speed chase. The Independent Record reports Cory Robert Franklin of Helena was sentenced to 20 years in prison and ordered to pay $11,000 in restitution Thursday after his conviction. 

    A Montana man has been convicted of burglary after he was accused of stealing an ATM from a Helena bar and restaurant, putting it in the back of a pickup and leading deputies on a high-speed chase. The Independent Record reports Cory Robert Franklin of Helena was sentenced to 20 years in prison and ordered to pay $11,000 in restitution Thursday after his conviction. 

  • Florida Panhandle medical care on life support after Michael

    Florida Panhandle medical care on life support after Michael

    Friday, October 19 2018 1:54 PM EDT2018-10-19 17:54:13 GMT
    Sunday, October 21 2018 10:36 AM EDT2018-10-21 14:36:00 GMT
    (AP Photo/Gerald Herbert). Aleeah Racette receives medical treatment inside the Florida 5 Disaster Medical Assistance Team tent, outside the Bay Medical Sacred Heart hospital, in the aftermath of Hurricane Michael in Mexico Beach, Fla., Thursday, Oct. ...(AP Photo/Gerald Herbert). Aleeah Racette receives medical treatment inside the Florida 5 Disaster Medical Assistance Team tent, outside the Bay Medical Sacred Heart hospital, in the aftermath of Hurricane Michael in Mexico Beach, Fla., Thursday, Oct. ...
    Medical services in the Florida Panhandle are still on life support more than a week after Hurricane Michael.
    Medical services in the Florida Panhandle are still on life support more than a week after Hurricane Michael.
Powered by Frankly
Copyright - All content © 2001 - 2018. All Rights Reserved. For more information on this site, please read our Privacy Policy, Terms of Service, and Ad Choices.