WASHINGTON—A sweeping Republican plan to overhaul the U.S. tax code proposes to sharply reduce tax rates on businesses and many individuals, kicking off an effort by President Donald Trump and congressional leaders to build momentum for a challenging legislative push in the months ahead. The plan calls for a 20% corporate tax rate, down from 35% today. Other businesses, which pay their taxes through the individual returns of their...

Source: Wall Street Journal September 27, 2017 14:34 UTC