Trump calls for dramatic tax cuts

The Trump administration has laid out its new tax proposal that leans heavily on tax cuts.

President Donald Trump wants to slash the top rate of individual taxes to 35 percent from 39.6 percent. He also wants to cut the top tax rate for all businesses to 15 percent.

The proposal is expected to draw criticism in Congress, specifically over how the cuts would be paid for.

Read more from CNNMoney.

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