WASHINGTON — President Donald Trump suggested Saturday he may be willing to negotiate changes to a significant portion of the tax overhaul, the corporate tax rate, injecting an element of uncertainty into the tax plan only hours after it cleared the Senate. Sen. Marco Rubio, R-Fla., tried to pare back the proposed cut in corporate tax rates to 20.94 per cent to provide a more generous increase in the child tax credit. White House officials did not immediately respond to questions seeking clarity on Trump’s views of the proposed corporate tax rate. Republicans have pointed to the tax bill as crucial to retaining its House and Senate majorities in next year’s midterm elections. Democrats have noted that while the corporate tax rates would be permanently reduced under the plan, it would only offer temporary tax cuts to individuals, lasting until 2026.

Source: National Post December 03, 2017 01:18 UTC