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Trump Tax Plan Cuts Top Corporate Rate to 20%

Rate for pass-through businesses would be capped at 25%.

By Anna Edgerton, Ben Brody and Sahil Kapur | Updated on September 27, 2017

President Donald Trump and Republican leaders will launch an urgent effort to get a major legislative win this year, announcing a long-awaited tax plan that will immediately set off a fight over how much top earners should pay.

The framework they’re set to release Wednesday proposes cutting the top individual rate to 35%—but leaves it up to Congress to decide whether to create a higher bracket for those at the top of the income scale.

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