How Trump Tax Plan Would Be Felt In Kentucky
Earlier this week, President Donald Trump released a blueprint for changes he’d like to make to the country’s tax code. Though specifics are still unclear, Kentucky’s most profitable companies would get a tax break under the plan.
Trump’s proposal would lower the corporate tax rate from 35 percent to 15 percent, reducing tax revenue into federal coffers by an estimated $2 trillion over 10 years.
Tyler Houlton, director of federal affairs at libertarian-leaning Americans for Prosperity, said the move would spur economic growth.
“If you get a tax cut across the board, which we support, that helps everyone," Houlton said. "You can hire more people, you can expand your business things like that. That helps drive the economy, create economic growth.”
Louisville-based Humana, which employs more than 50,000 people and made over $54 billion in 2015 would have to pay about $11 billion less in taxes.
Yum! Brands, which employs more than 500,000 people and made over $13 billion would cut a little more than $2.5 billion in taxes.