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Trump’s 15% Corporate Rate Debated During Tax Meetings: Official

  • Disagreement centers on whether legislation can add to deficit
  • Account offers glimpse into closed-door tax-policy sessions
Bloomberg business news

Paul Ryan's Tax-Overhaul Pep Talk

President Donald Trump’s call to slash the corporate income tax rate to 15 percent has faced resistance during private tax meetings, according to a senior White House official.

While Trump has been clear that he thinks cutting the rate, which is currently 35 percent, is essential for job creation, others have said that it’s impossible to cut it as much as he wants without adding to the federal deficit, said the official, who asked not to be named because the discussions are private. The official didn’t specify who had raised the objections, but said administration officials have met with over 200 members of Congress as part of the effort to craft the tax bill.