September 27, 2017 / 5:29 PM / 2 years ago

Trump says he will not negotiate on 20 percent corporate tax rate

U.S. President Donald Trump boards Air Force One for travel to Indiana from Joint Base Andrews, Maryland, U.S. September 27, 2017. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) - U.S. President Donald Trump said wealthy Americans would not benefit under his tax plan and that he would not negotiate on the Republicans’ tax framework proposal to lower the corporate tax rate to 20 percent.

“No I don’t benefit. I think there’s very little benefit for people of wealth,” Trump told reporters at the White House. On the corporate tax rate, he said: “I wanted to start at 15 (percent) so that we got 20 (percent) - 15 was so low we didn’t take in the revenue. But I wanted 15 so we got 20, 20’s my number so I’m not negotiating that number. I am not going to negotiate.”

Reporting by Jeff Mason; Writing Doina Chiacu; Editing by Chizu Nomiyama

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