Trump's tax bill allows twice as many companies to pay zero taxes | WHAT REALLY HAPPENED

Trump's tax bill allows twice as many companies to pay zero taxes

The tax plan introduced by the administration of US President Donald Trump has allowed twice as many companies to pay zero taxes, according to a recent report.

The report by the Center for Public Integrity revealed that under the Trump tax plan, which is officially known as the Tax Cuts and Jobs Act, corporate tax rates were lowered from 35 percent to 21 percent resulting in the number of companies paying no taxes to go from 30 to 60 in its first year.

The Washington, DC-based think-tank, the Institute on Taxation and Economic Policy (ITEP) found that the number of companies exempted from taxes was more than twice as many as ITEP found roughly, per year.

Many of the country's largest publicly-held corporations have reported that they owe absolutely nothing on the billions of dollars in profits they earned last year, it said.

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