Business Politics
Congress Harvey Jacquelyn Martin/AP

House Speaker Paul Ryan of Wisconsin listens during a news conference about Harvey relief efforts after a meeting with House Republicans on Wednesday, Sept. 6, 2017, on Capitol Hill in Washington.

September 07, 2017

Ryan aiming for mid- to low-20 percent corporate tax rate

WASHINGTON — House Speaker Paul Ryan says the Republican tax plan will aim to reduce the corporate tax rate to mid- to low-20 percent — a smaller cut than what President Donald Trump wants.

Ryan is providing some specifics as the GOP starts to write tax legislation — with help for the middle class a main goal.

Trump has called for a 15 percent tax rate for corporations. The rate now ranges from 15 percent to 35 percent.

Some experts say a 15 percent rate isn't possible without blowing a hole in the deficit.

And that's clear to Ryan as he discussed a higher range during an appearance at a New York Times forum.

He says: "Numbers are hard to make that work."