Read the story and predict what type of tax Tom is referring to.
I'm Tom. I am the owner of a sporting goods store. For years, under the tax laws, we
were being taxed 39% on the profits made from our business. With these taxes being so high, it
made it very difficult for me to expand my company & hire more workers. In 2017. then-President
Trump signed new legislation, which lowered these taxes from 39% to 21%. This generated more
income & allowed my business more room to grow.