White House Reconsidering Corporate Tax Rate Goal

The Trump Administration, according to White House officials and advisors, is considering a corporate tax rate of 20 percent to 25 percent.  While this estimate is higher than the 15 percent rate set forth in the Administration’s one-page tax proposal issued in April, one senior administration official explained that the April figure was a starting point for negotiations, with the ultimate goal of a corporate tax rate near 20 percent.   President Trump is expected to begin campaigning in support of a unified Republican tax reform plan next month, which White House and Congressional leaders, including Treasury Secretary Steven Mnuchin, House Ways and Means Committee Chairman Kevin Brady, and Senate Finance Chairman Orrin Hatch anticipate agreeing on, at a high-level, by September.

Trump targeting corporate tax rate ‘in the 20s’

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