Trump overhauls income tax proposal

Posted at 12:32 PM, Aug 08, 2016

DETROIT (AP) -- Donald Trump is overhauling the income tax proposal he unveiled during the Republican primary and increasing the amount that would be paid by the highest-income earners.

Trump says in an economic speech in Detroit that he wants to simplify the tax code to three brackets: 12 percent, 25 percent and 33 percent of income.

That's a change from September, 2015, when he proposed four brackets that would pay zero, 10 percent, 20 percent and 25 percent.

Trump says the "tax simplification will be a major feature " of his plan and calls it "the biggest tax revolution since the Reagan tax reform"

He says, "We will make America grow again."

Experts said his old plan would have increased the debt by as much as $10 trillion over the next decade.