washington president donald trump campaign cut u.s. corporate tax rate 15 percent administration officials say monday negotiators engage closed-door talk shoot little 20 percent realize super-low rate would balloon federal deficit republican leaders house representatives senate unlikely allow budget deficit grow officials say hope corporate tax low end 20 percent 25 percent range go truly deficit neutral house ways mean committee chairman kevin brady tell reporters go permanence mean reform balance budget six months trump presidency republicans control house senate white house yet agree important feature tax code overhaul senate rule republicans want take advantage simple majority pass tax legislation without democratic support must show new policies add federal deficit 10 years cut corporate tax rate 15 percent current 35 percent would cost trillion decade accord independent analysts total would hard offset proposals raise revenue face broad political opposition think trillion politically saleable offset corporate side ledger say rohit kumar former aide senate republican leader mitch mcconnell serve principal tax policy group consult account firm pwc llp two house republican proposals could help pay reduction border adjustment tax propose elimination business deduction debt interest payments face broad opposition industry many republican lawmakers administration officials hope negotiators agree plan end july convert legislation august unveil september trump sign law well end 2017. independent analysts lobbyists say likely timeline would see release tax legislation october november vote early 2018. negotiators brady treasury secretary steven mnuchin white house economic adviser gary cohn house speaker paul ryan senate republican leader mitch mcconnell senate finance committee chair orrin hatch yet agree new corporate tax rate pay tax cut also yet agree tax break eliminate whether include controversial border tax import want end taxation foreign profit u.s. multinational corporations must agree measure stop u.s. corporations move headquarter shift profit overseas lobbyists say group likely consider minimum tax foreign corporate earn alternative border tax republicans congress acknowledge challenge identify tax code change unite party factions battle healthcare fiscal 2018 budget include legislative tool crucial pass tax legislation without democratic vote question get framework chance passage answer see hatch tell reporters take part principals meet last week corporate tax reform negotiators aim trump 's 15 percent pledge