President Trump wants his administration to draft a tax plan that would cut the corporate tax rate to 15 percent, The Wall Street Journal reported Monday.

The Journal, citing "people familiar with the directive," reported that Trump told his staff last week that he wants to be able to sell a large tax cut to the public and is less concerned about the proposal adding to the deficit.

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Trump is slated to describe his principles for tax reform on Wednesday. The White House and congressional Republicans have made enacting a tax bill one of their top priorities of this year.

Members of Trump's economic team are scheduled to meet with House GOP leaders and the chairmen of the congressional tax-writing committees on Tuesday to discuss tax reform.

The corporate tax rate is currently 35 percent. Trump also proposed a 15 percent rate during his presidential campaign, while the House Republicans' tax plan proposes lowering the corporate tax rate to 20 percent.

Speaker Paul Ryan Paul Davis RyanAt indoor rally, Pence says election runs through Wisconsin Juan Williams: Breaking down the debates Peterson faces fight of his career in deep-red Minnesota district MORE (R-Wis.) told Fox News in December that he would love to get the corporate tax rate down to 15 percent, but warned it may not be achievable.

Republicans are pushing to pass tax-reform legislation under budget reconciliation to avoid a filibuster in the Senate. But bills passed under reconciliation can't increase the deficit after 10 years.

"Fifteen percent isn't deficit-neutral," Ryan said.

Rep. Tom Cole (R-Okla.) told The Hill on Monday that when it comes to the corporate tax rate, "lower is better." He noted that the U.S. corporate tax rate is among the highest in the world.

But while he supports lowering the corporate tax rate, Cole said he “wouldn’t want to do it at the cost of exploding the deficit.”

Updated at 4:25 p.m.