Republican tax negotiators are targeting a corporate tax rate of 20 per cent, according to two people familiar with the matter. That would be higher than President Donald Trump wants —setting up a key decision for the president on a top legislative priority. Trump has called for cutting the corporate rate to 15 per cent, down from the current 35 per cent. The plan he’ll see this week is also expected to recommend cutting the top individual tax rate to 35 per cent, down from 39.6 per cent, two people familiar with the matter said. Trump and Treasury Secretary ...
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First Published: Mon, September 25 2017. 02:22 IST