Guam Tax Commission discusses Trump tax plan

HAGÅTÑA, Guam — A report presented to the Guam Tax Commission on Dec. 6 estimates that $126.4 million in Guam Territorial Income Tax revenue would be lost if President-elect Donald J. Trump implements his proposed tax plan in 2017. The report was prepared by the Office of Sen. Michael San Nicolas, chairman of the commission, using the Urban-Brookings Tax Policy Center Microsimulation Model and estimates that revenue from the average household would decrease by approximately $2,940.

Trump’s plan includes increasing standard deductions for individuals and joint filers, tax bracket changes, expanding EITC, repealing the . . .

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