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Local lawmakers have mixed reactions... President Trump released his long-awaited tax plan Wednesday. The administration says it would slash both corporate and individual rates. The plan will lower the business rate to 15 percent, down from the current rate of 35 percent. On the personal level, the administration wants the current seven brackets reduced to three - a 10 percent bracket, a 25 percent bracket and a 35 percent bracket. They would also double the standard deduction, so a married couple would pay no tax on the first $24,000 income. They claimed it will not increase deficits. Jeff Berdahl, chair of the Lehigh Valley Chamber of Commerce Tax Committee, liked what he heard. "This is a positive, positive step. for businesses, for middle class taxpayers. For everybody," Berdahl said. He says tax cuts would lead to growth. "Smaller businesses would have confidence, they'd go out, they'd hire people. They'd expand," he said. U.S. Senator Pat Toomey also applauded the plan. "Simplifying the code, lowering high tax rates and eliminating special interest loophooles will promote domestic economic growth, create jobs and raise wages," Toomey said in a statement. However Democrats wasted no time, and pounced. "This scheme is a massive tax giveaway to millionaires, billionaires and big corporations at the expense of middle class families," said U.S. Senator Bob Casey. Republican Congressman Leonard Lance likes the tax cuts, but doesn't like that people would be stopped from deducting what they pay in state and local taxes. "New Jersey taxpayers would lose under that plan. I will be a leading voice in negotiations for maintaining that deduction," Lance said. Read the original article here.