In a public announcement on Wednesday, Mr. Trump is expected to lay out a broad tax plan that includes lowering corporate taxes to 15 percent. Mr. Hatch, of Utah, said that he was not sure how the Congressional Budget Office would analyze the corporate tax plan that Mr. Trump is expected to propose. Mr. Hatch had expressed skepticism on Monday about such a low corporate tax rate because, under the Senate’s reconciliation rules, changes to the tax code that reduce tax revenue expire after 10 years. Democrats remain vehemently opposed to any tax legislation that offers big tax cuts for the rich. He also warned that using reconciliation to approve tax cuts would not fulfill the president’s promise to make the economy more competitive.

Source: New York Times April 25, 2017 16:18 UTC