AZ financial expert bullish on Trump tax plan

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President Donald Trump is expected to lay out more details on his plan to slash the corporate tax rate on Wednesday. (Source: CNN) President Donald Trump is expected to lay out more details on his plan to slash the corporate tax rate on Wednesday. (Source: CNN)
Nancy Tengler, chief investment officer for Heartland Financial, said the tax plan will create jobs. (Source: 3TV/CBS 5) Nancy Tengler, chief investment officer for Heartland Financial, said the tax plan will create jobs. (Source: 3TV/CBS 5)

President Donald Trump is expected Wednesday to lay out more details on his plan to slash the corporate tax rate.

It's been reported that that the president aims to drastically cut those taxes to 15 percent from 35 percent.

[READ MORE: Trump likely to propose 15% tax rate for all businesses, not just corporations]

This will likely be welcome news for most of Arizona 195,000 tax-paying businesses.  

As for individual taxpayers, they will have to wait and see how Trump proposal will hit their bottom line.

During the campaign, the president talked about reducing the number of income tax brackets from seven to four.

In addition, Trump spoke about cutting the highest income tax rates from 39.6 percent to 25 percent.

Regardless, one estimate said the corporate tax cut alone will cost $2.4 trillion over 10 years.

Some economists say it is too pricey since the president also plans to throw in some spending measures to attract Democrats.

But one local financial expert believes the president's plan will crank up the economy and create jobs.

"We are the third highest taxed country in the world and the other two are third world countries so we have put ourselves at a dramatic disadvantage corporately," said Nancy Tengler, chief investment officer for Heartland Financial.

"I will say this. If it benefits the middle class and it benefits the wealthy, I don't think people are going to object to that," Tengler added.

Copyright 2017 KPHO/KTVK (KPHO Broadcasting Corporation). All rights reserved.


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Dennis WlechVeteran political reporter Dennis Welch is a well-respected political expert in Arizona.

Dennis Welch
Political Editor

Before making the move to television, Welch wrote and edited for the Arizona Guardian, a highly influential online news site dedicated to Arizona politics and government where he served as owner and editor. During his Guardian days, Welch was a frequent guest on “Politics Unplugged” and has been a regular fixture on the state political landscape since 2005 appearing on numerous radio and television talk shows. “I am thrilled to start working with such a talented and dedicated staff of journalists,” said Welch. “This is a great opportunity to broaden the reach of my political coverage and tell stories that affect Arizona voters and their families.” With more than 13 years of experience under his belt, Welch’s arrival only strengthens 3TV’s commitment to providing first-rate political and government coverage across all platforms. When not covering politics, Welch is an avid runner and fronts a punk rock band that plays frequently throughout the Southwest and California. Welch is a well-respected political expert in Arizona and his addition means 3TV will provide a stronger, more robust political presence in Arizona. He joins 3TV from the Arizona Guardian, a highly influential online news site dedicated to Arizona politics and government where he served as owner and editor. During his Guardian days, Welch was a frequent guest on “Politics Unplugged” and has been a regular fixture on the state political landscape since 2005 appearing on numerous radio and television talk shows. “I am thrilled to start working with such a talented and dedicated staff of journalists,” said Welch. “This is a great opportunity to broaden the reach of my political coverage and tell stories that affect Arizona voters and their families.” With more than 13 years of experience under his belt, Welch’s arrival only strengthens 3TV’s commitment to providing first-rate political and government coverage across all platforms. When not covering politics, Welch is an avid runner and fronts a punk rock band that plays frequently throughout the Southwest and California.

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