Two top Trump administration officials said it may not be possible for President Donald Trump to deliver on his promise to cut corporate tax rates to 15%.

In separate appearances Tuesday, Treasury Secretary Steven Mnuchin and Marc Short, Trump's legislative affairs director, both said Trump is still committed to that rate cut—down from the current 35%—but acknowledged the potential for compromise.

“The president has made it clear since the campaign, ideally he'd like to get it down to 15%. I don't know if we'll be able to achieve that given the budget issues, but we're going to get this down to a very competitive level,” Mnuchin said at CNBC's Delivering Alpha conference in New York. “What the exact number is less important, what's important is making sure we have a competitive system.”