Trump’s 15% Corporate Tax Push Sets Stage for Clash With Ryan
- House speaker has said it’s difficult to offset 15% rate
- Senate Finance chair is skeptical of Trump’s business tax rate
Trump Aides Said Set to Talk Tax Plan With GOP Leaders
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President Donald Trump’s plan to slash the corporate tax rate to 15 percent is setting up a showdown with House Speaker Paul Ryan, who has called for a tax plan to pay for itself.
Trump intends to lay out broad tax principles on Wednesday, including cutting the federal corporate tax rate to 15 percent from 35 percent and calling for consideration of a child-care tax credit, a senior administration official said. A corporate rate that low would make it difficult to find ways to increase revenue or eliminate deductions to offset it -- that means a plan wouldn’t be revenue-neutral, or permanent.