Presidential hopeful Rudolph Giuliani outlined a plan to reform the Tax Code and cut taxes.

The former New York City mayor plans to simplify the Tax Code by introducing the Fair and Simple Tax form. The FAST form would give taxpayers the option of filling out their taxes on a single page and cut the number of tax brackets in half. The form would preserve deductions for mortgage interest, charity, state and local taxes, the child tax credit, the personal exemption, and the new health care exclusion.

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