Trump said to unveil 35% individual tax rate, cut corporate tax to 20%

Omkar Godbole FXStreet Contributor

News is crossing the wires that Trump is expected to propose lowering the top individual tax rate from 39.6% to 35%.

According to reports, the tax rate for the bottom individual tax bracket would be increased from 10% to 12% under the plan. At the same time, however, the standard deduction would be doubled

Trump said he hoped for a corporate tax rate of 15%, a figure he has used before. Congressional officials have said they hope to cut the current rate of 35% to 20%.

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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