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Creating jobs and creating economic growth. reporter: the number of personal income tax brackets would be cut from 7 to 3. the rate set at 10%, 25% and 35%. the president will nearly double the standard deduction from individuals from the current $6,300 to $12,000. married couples will pay no tax on the first $24,000 in income. the corporate tax rate would be slashed from the current 35% to 15%. the same rate would apply to many small businesses. the president is determined to unleash economic growth for businesses. this is not just about large corporations. reporter: president trump is also promising to repeal the death tax and alternative minimum tax and allow corporations to repatriot at an attractive rate. he ll eliminate all personal deductions, except mortgage interest and charitable deductions. no word on whether he ll make ....
Creating jobs and creating economic growth. reporter: the number of personal income tax brackets would be cut from 7 to 3. the rate set at 10%, 25% and 35%. the president will nearly double the standard deduction from individuals from the current $6,300 to $12,000. married couples will pay no tax on the first $24,000 in income. the corporate tax rate would be slashed from the current 35% to 15%. the same rate would apply to many small businesses. the president is determined to unleash economic growth for businesses. this is not just about large corporations. reporter: president trump is also promising to repeal the death tax and alternative minimum tax and allow corporations to repatriot at an attractive rate. he ll eliminate all personal deductions, except mortgage interest and charitable deductions. no word on whether he ll make ....
Place. either way it rattled the markets. it is the third devaluation. the rate hasn t moved much from the fix rate set by the central bank this morning. that s perhaps encouraging the markets that things are going to stabilize somewhat with and the currency isn t going to fall too much further. then again, this is china. as we know, thing s are extremely volatile there at the moment. the official word out of china, however, is that the imfa and the united states has been ....
Higher so they can cash in like never before. rich edson from the fox business network leads our news at the bottom of the hour. rich, what s going on here. banks write mortgages, sell them to investors, use different interest rates make a good deal. that business is becoming more profitable. one watchdog group says banks are simply using historically low rate set by the federal reserve to turn an easy profit. these interest rates are all set to maximize the income of the biggest banks and basically to move money from the pockets of the american people to the pockets of the biggest banks on wall street. now, the times report also says fewer banks since the financial crisis means more business for existing lenders, one example it cites, wells fargo recently reported a 155% annual increase in revenue from its mortgage origination business, shep. shepard: wow, what are the banks saying about all of ....
while the air force investigates the deadly crash of an eighth plane. one of these based in charlotte, north carolina. we expect to learn more in a news conference this afternoon. we know that four of the six crew members were killed, including this man, lieutenant colonel mike mckiel who spoke to one of our affiliates on saturday. lizzie o leary with the latest out of washington. what s the latest? reporter: latest is that they are investigating the cause of this crash while the other c-130s are grounded, grounded by the air force right now, and that essentially really diminishes the ability of the forest service to fight a lot of wildfires. the way the service does this is they use a number of different planes, but some of the big guns, as you said it, are the c-130s that are on loan from the air force as part of this fire fighting fleet. this is not the first time a c-130 has crashed, a relatively horrific crash in 2003 when essentially a c-130s wings folded up war ....