Trump said to unveil 35% individual tax rate, cut corporate tax to 20%

News is crossing the wires that Trump is expected to propose lowering the top individual tax rate from 39.6% to 35%.

According to reports, the tax rate for the bottom individual tax bracket would be increased from 10% to 12% under the plan. At the same time, however, the standard deduction would be doubled

Trump said he hoped for a corporate tax rate of 15%, a figure he has used before. Congressional officials have said they hope to cut the current rate of 35% to 20%.