U.S. House of Representatives Republicans want to lower the top individual income tax rate to 33 percent and slash the corporate tax rate, according to a blueprint released on Friday as an agenda for this year's re-election campaign.
The tax reform plan, to be officially unveiled on Friday morning at the U.S. Capitol, is the sixth and final plank of a conservative policy agenda being rolled out by House Speaker Paul Ryan in an effort to unify Republicans after a divisive primary campaign.
Ryan, the country's highest-ranking elected Republican, has described the agenda as a way to offer voters a coherent policy message across key legislative areas for 2017. He has already released segments on poverty, national security, regulation, constitutional authority and healthcare.
Aides describe these issue areas as common ground between Republican presidential candidate Donald Trump and Ryan, who withheld his endorsement of the billionaire businessman until recently.
But Trump's ideas about taxes have appeared contradictory at times. Trump said in May that he is open to raising taxes on the rich, backing off his prior proposals to reduce taxes on all Americans and breaking with Republican presidential nominees who have staunchly opposed tax hikes for almost three decades.