US corporate tax goal in doubt as Trump intensifies reform drive

Washington

US Treasury Secretary Steven Mnuchin on Tuesday cast doubt on President Donald Trump's goal of cutting the corporate tax rate to 15 per cent, even as the president moved to inject new urgency into a sluggish effort in Congress to lower taxes.

"Ideally, he'd like to get it down to 15 per cent. I don't know if we'll be able to achieve that given the budget issues, but we're going to get this down to a very competitive level," Mr Mnuchin told a conference in New York hosted by CNBC.