Ryan aiming for mid- to low-20 percent corporate tax rate

Markets Associated Press

House Speaker Paul Ryan says the Republican tax plan will aim to reduce the corporate tax rate to mid- to low-20 percent — a smaller cut than what President Donald Trump wants.

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Ryan is providing some specifics as the GOP starts to write tax legislation — with help for the middle class a main goal.

Trump has called for a 15 percent tax rate for corporations. The rate now ranges from 15 percent to 35 percent.

Some experts say a 15 percent rate isn't possible without blowing a hole in the deficit.

And that's clear to Ryan as he discussed a higher range during an appearance at a New York Times forum.

He says: "Numbers are hard to make that work."