Jeb Bush says tax code overhaul will boost economy
GARNER, N.C. (AP) — Republican presidential candidate Jeb Bush laid out a tax overhaul plan Wednesday that calls for a lower corporate tax rate for businesses and immediate tax deductions for business investments to help create millions of jobs and boost economic growth.
For individual taxpayers, Bush proposes doubling the standard deduction, eliminating the so-called marriage penalty, expanding the popular Earned Income Tax Credit and ending the estate tax and Alternative Minimum Tax.
[...] he would end the deduction for paying state and local taxes and limit the mortgage interest deduction popular with homeowners.
President Barack Obama won the state in the general election in 2008, but Republican nominee Mitt Romney carried it in 2012.
Bush, who trails in the polls nationally and in early primary states, has offered up several policy proposals in recent weeks to counter GOP front-runner Donald Trump, who's been throwing personal digs at him.
Another part of his plan would allow U.S. companies to pay taxes only on profits earned in the U.S., one of the few countries that require corporations to pay taxes at home for their overseas earnings.