September 13, 2017 / 4:19 PM / 10 months ago

Republican Senator Cruz pushes 15-20 percent corporate tax rate

WASHINGTON (Reuters) - Republican Ted Cruz, a key conservative in the U.S. Senate, on Wednesday said tax reform should slash the corporate income tax rate to 15-20 percent from the current 35 percent rate, substantially below the 20-25 percent range being targeted by the Trump administration and Republicans in Congress.

FILE PHOTO: U.S. Senator Ted Cruz (R-TX) departs the Senate floor at the U.S. Capitol in Washington, U.S. September 5, 2017. REUTERS/Jonathan Ernst

In a speech at a tax forum, Cruz also opened the door to expanding the deficit to pay for tax cuts and said Congress should pass a 2018 budget resolution with a 20-30 year window, arguing that doing so would better ensure that tax reform leads to long-lasting economic growth.

Reporting by David Morgan; Editing by Susan Heavey

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