A White House spokeswoman, Natalie Strom, said: “Discussions between the White House and Congress are progressing in a very positive direction. Cutting the corporate tax rate to 15 percent from 35 percent would reduce tax revenue about $2 trillion over a decade, according to the Tax Foundation. The resolution requires that changes to the tax code do not add to the deficit. Most of the major economic powers have a corporate rate that is half the rate in the United States. On Thursday, he will visit a sneaker factory in Massachusetts, where he will make the case that rewriting the tax code is the key to improving the fortunes of American manufacturers.

Source: New York Times July 19, 2017 18:30 UTC