New Obama Tax Plan Would End 'Trust Fund Loophole'
The White House says President Obama will propose a series of tax reforms at Tuesday's State Of The Union address.By Madison Burke | January 18, 2015
President Obama is expected to propose a series of tax reforms at Tuesday’s State of the Union address.
Those reforms will likely include closing what the White House calls the “trust fund loophole” that allows wealthy Americans to skip some taxes when passing on money to heirs.
The president also plans to propose tax breaks for dual-income families and expand the child care tax credit.