Donald Trump proposes major tax cuts, slashing corporate rate to 15%
The Trump administration unveiled plans to dramatically cut taxes for US businesses and individuals, slashing the corporate rate to 15 per cent, but the once-in-a-generation overhaul is headed for a tough fight in Congress.
As Donald Trump’s presidency nears the symbolic 100-day mark, the Republican is seeking to follow through on a flagship promise to overhaul the tax code to boost the US economy, businesses and families, including middle-class and working-class Americans.
Corporate tax rates would be more than halved, from the current 35 per cent to 15 per cent, and tax brackets for individuals would be compressed from seven to just three – 10 per cent, 25 per cent and 35 per cent.
Gary Cohn, the president’s chief economic adviser who unveiled the plan along with Mnuchin, dubbed it “the most significant tax reform legislation since 1986, and one of the biggest tax cuts in American history.”
Missing trekkers found in Nepal after seven weeks, one dead
Rescuers found two Taiwanese trekkers who went missing in a remote mountainous part of Nepal seven weeks ago, but only one survived the ordeal.
Liu Chen-chun, 19, died just three days before the rescue team located the couple in north-west Nepal, but her boyfriend managed to survive despite running out of food.
Liang Sheng-yueh, 21, is being treated in hospital in Kathmandu where he was airlifted after being rescued from the steep slope where the couple had been trapped for over a month.
Tennis: ‘Best feeling in world’ as Sharapova wins on return
Maria Sharapova marked her return from a 15-month doping ban with a rusty 7-5, 6-3 win over Roberta Vinci in Stuttgart, describing victory as the “best feeling in the world”.
Sharapova, the former world number one and five-time Grand Slam champion, brushed off a nervous start to eventually claim a convincing win on her controversial comeback having tested positive for meldonium at the 2016 Australian Open.
“It’s the best feeling in the world to walk out (on court), it’s been a stage of mine since I was a young girl and it was very special,” said Sharapova who celebrated her win with a succession of double fist pumps and a broad smile before blowing kisses to all corners of the Porsche Arena. “I have been waiting for this a long time.”
Football: Eriksen strikes late to keep Spurs in title hunt
Christian Eriksen reignited Tottenham's bid to catch Premier League leaders Chelsea as the Dane's late blast sealed a vital 1-0 win against Crystal Palace.
Mauricio Pochettino's side were well below their best for long periods at Selhurst Park, but Eriksen came to the rescue in dramatic fashion with 12 minutes left.
His sumptuous long-range strike closed the gap on Chelsea to four points after their title rivals had moved seven points clear with a win over Southampton 24 hours earlier.
Oscar-winning Silence Of The Lambs director Jonathan Demme dies at 73
Jonathan Demme, the eclectic movie director whose work ranged from thrillers like The Silence Of The Lambs to documentaries on leading musicians, died early of complications from esophageal cancer, his publicist said.
The 73-year-old director of ground-breaking Aids movie Philadelphia died in his Manhattan apartment surrounded by his wife, Joanne Howard, and three children, publicist Annalee Paulo said in a statement.
Demme’s most recent feature film was the 2015 comedy Ricki And The Flash, starring Meryl Streep as an ageing rocker.