Trump tax plan targets the wealthy

GOP presidential front-runner Donald Trump’s tax plan would increase taxes on those in higher income brackets while reducing the levies on middle-class and poor taxpayers, The Wall Street Journal reported on Monday.

{mosads}Trump is releasing his plan during a news conference at Trump Tower Monday morning.

It will offer a “major tax reduction for almost all citizens” in the hopes of stimulating business in the U.S., according to the Journal.

It added that Trump is also pushing for those in the lowest income bracket to get an exemption from paying federal taxes.

Trump’s tax policy outline also focuses on corporate interests.

The Journal reported that Trump’s plan includes a tax hike on companies that skirt U.S. tax codes by placing their headquarters overseas.

Trump defended his ideas on tax policy in an interview on CBS’s “60 Minutes” Sunday evening.

“Some very wealthy are going to be raised,” he said of tax increases. “Some people that are getting unfair deductions are going to be raised.

“But overall it’s going to be a tremendous incentive to grow the economy, and we’re going to take in the same or more money,” Trump told host Scott Pelley.

Trump outlined his immigration and gun ownership stances earlier in the campaign.

The Wall Street Journal also reported on Monday that the outspoken billionaire is hosting 45 religious leaders, including African-American pastors, for a private meeting in New York City Monday afternoon.

Their meeting with Trump continues the real estate mogul’s push for evangelical and minority voters heading into the 2016 presidential election cycle.