The Drivers of Trump's Tax Cut Plan

The video discusses the financial implications of eliminating state and local tax deductions, which could save $1 trillion over a decade, affecting individual tax reductions. It also covers the potential reduction of the corporate tax rate from 35% to 20%, costing approximately $1.5 trillion in foregone revenue over ten years. The loss of the border adjusted tax, which could have raised $1 trillion, is noted, and alternative revenue proposals are considered, including those from a 2014 bill by Chairman Dave Camp. The Senate's discussion of a $1.5 trillion tax cut is also highlighted.

Discuss the implications of losing revenue on the individual side in relation to business taxation.

What is the significance of the $1.5 trillion tax cut mentioned in the text?