WASHINGTON (Dispatches) - President Donald Trump is to propose slashing the rate of corporation tax when he announces his tax plan later.
White House officials say the centerpiece of Wednesday's announcement will be a sharp reduction in the business tax rate, from 35% to 15%.
Economists say the tax cuts will add trillions of dollars to the deficit over the next decade.
But Treasury Secretary Steven Mnuchin has said the tax plan "will pay for itself with economic growth".
The White House is also working to include an expanded child and development care credit, for which Trump's daughter, Ivanka, has advocated.
Democrats are not expected to back a plan which adds to the national debt.