Simplify tax brackets +$1.5 trillion

The plan moves from seven tax brackets for individuals to three — 10 percent, 25 percent and 35 percent — and lowers the top rate.

The plan moves from seven tax brackets for individuals to three — 10 percent, 25 percent and 35 percent — and lowers the top rate.

Repeal the Alternative Minimum Tax +$0.4 trillion

The Alternative Minimum Tax limits the deductions wealthy people can take.

The Alternative Minimum Tax limits the deductions wealthy people can take.

Double the standard deduction +$1.5 trillion

The standard deduction currently allows individuals to deduct $6,350 and married couples to deduct $12,700 from their taxable income. The new plan would double that.

The standard deduction currently allows individuals to deduct $6,350 and married couples to deduct $12,700 from their taxable income. The new plan would double that.

Repeal the inheritance tax +$0.2 trillion

Taxes are currently levied on estates worth more than $5.5 million when the estate is passed from a deceased person to his or her heirs.

Taxes are currently levied on estates worth more than $5.5 million when the estate is passed from a deceased person to his or her heirs.

Reduce the corporate tax rate +$3.7 trillion

Mr. Trump’s plan cuts the corporate tax rate to 15 percent from 35 percent. The Committee for a Responsible Federal Budget estimated that this would directly reduce revenue by $2.2 trillion. The deficit could increase a further $1.5 trillion because the change would encourage individuals to use creative accounting to take advantage of the lower corporate tax rate, it says.

Mr. Trump’s plan cuts the corporate tax rate to 15 percent from 35 percent. The Committee for a Responsible Federal Budget estimated that this would directly reduce revenue by $2.2 trillion. The deficit could increase a further $1.5 trillion because the change would encourage individuals to use creative accounting to take advantage of the lower corporate tax rate, it says.

Repeal the tax on investment income +$0.2 trillion

This plan would eliminate a 3.8 percent tax on investment income that helps fund the Affordable Care Act.

This plan would eliminate a 3.8 percent tax on investment income that helps fund the Affordable Care Act.

Expand child care benefits Unknown

The Trump administration is considering increasing tax credits for child care.