Republican tax negotiators are targeting a corporate tax rate of 20%, according to two people familiar with the matter—but there's at least one potential obstacle: President Donald Trump.

"We'll see what happens, but I hope it's going to be 15%," Trump told reporters Sunday as he prepared to return to Washington after a weekend in New Jersey. The current corporate tax rate is 35%. Meanwhile, the group of administration officials and congressional leaders that's planning a framework for tax legislation is also expected to recommend cutting the top individual tax rate to 35%, down from 39.6%, according to two people familiar with the matter.

Trump confirmed that his administration has hammered out a plan with congressional Republican leaders—though his administration has stopped short of confirming any details. The corporate and individual tax rates will be key portions of that plan—and Trump's brief late-afternoon remarks raised questions about both.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.