The White House unveiled an ambitious tax overhaul plan Wednesday, proposing deep cuts for individuals and businesses in what it called one of the biggest tax reforms in US history.
The plan unveiled by Donald Trump's administration lowers the corporate tax rate "from one of the highest in the world to one of the lowest," at 15 percent, while simplifying individual tax rules. 
The reform would lower the individual tax burden across the board, affecting millions of Americans, but would also eliminate "targeted tax breaks that mainly benefit the wealthiest taxpayers," the White House said.