GOP leaders circulating proposals to cut the corporate tax rate to 20%

Omkar Godbole FXStreet Contributor

As per the Washington Post report, "The GOP leaders are quietly circulating proposals to lower the corporate tax rate from 35 percent to 20 percent and lower the top individual income tax rate from 39.6 percent to 35 percent."

On Sunday, Trump told reporters he hoped to see the corporate tax rate lowered to 15 percent. The President has said that his tax cuts will be funded by high growth.

However, GOP leaders, including House Speaker Paul D. Ryan has said it is impossible to cut the corporate rate to 15 percent without adding too much money to the federal debt

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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