Exclusive: Republican U.S. tax framework sets 20 percent corporate rate

Republicans in the U.S. Congress and the White House called for slashing tax rates on businesses and the wealthy on Wednesday, as part of a new tax plan that offers few details about how to pay for tax cuts without expanding the federal deficit.

Hammered out over months of high-level talks among Trump aides and top Republicans in Congress, the plan proposes: a 20 percent corporate income tax rate; a new 25 percent tax rate for pass-through businesses including partnerships; and a reduced 35 percent top income tax rate for individual Americans, according to a framework seen by Reuters.