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G.O.P. Tax Plan Seeks Cuts in Rates and Number of Brackets The proposal will call for a cut in the top corporate income rate to 25 percent from 35 percent, and a reduction of the seven individual tax brackets to two — at 10 percent and 25 percent. ASHLEY PARKER February 26, 2014 at 5:00AM http://nyti.ms/1etEh7t The New York Times U.S. Tax Credits, Deductions and Exemptions, Income Tax, Corporate Taxes