Trump says he may lower corporate tax rate to 20 percent if reelected

President TrumpDonald TrumpThe Memo: The Obamas unbound, on race Iran says onus is on US to rejoin nuclear deal on third anniversary of withdrawal Assaults on Roe v Wade increasing MORE on Thursday said that he may push to lower the corporate tax rate from 21 percent to 20 percent if he is reelected.

In an interview on Fox Business Network, Trump said he "may bring down the 21 percent down to 20," calling a 20 percent rate an "even number."

Trump also said that he would cut taxes for middle-income people, though he did not provide specifics.


Trump's position on the corporate tax rate contrasts with that of Democratic presidential nominee Joe BidenJoe BidenDefense lawyers for alleged Capitol rioters to get tours of U.S. Capitol Sasse to introduce legislation giving new hires signing bonuses after negative jobs report Three questions about Biden's conservation goals MORE, who has called for raising the rate to 28 percent. Biden has had a substantial lead in many recent polls.

The president's comments are in line with remarks Mick MulvaneyMick MulvaneyHeadhunters having hard time finding jobs for former Trump officials: report Trump holdovers are denying Social Security benefits to the hardest working Americans Mulvaney calls Trump's comments on Capitol riot 'manifestly false' MORE, then Trump's acting chief of staff, made in February.

"He's never liked the fact that the corporate tax is 21 percent. He always wanted it to be 20," Mulvaney said about Trump at the time.

Trump's 2017 tax-cut law lowered the corporate tax rate from 35 percent to 21 percent.