New Jersey Gov. Chris Christie Tuesday offered his plan to slash income and corporate tax rates, joining other declared and potential Republican presidential candidates in their mission to cut taxes.
Current top income tax rate is 39.6 percent. Christie would lower it to a maximum of 28 percent and have only two other rates. He’d cut the corporate rate by 10 percentage points to 25 percent. He maintains his plan would be revenue-neutral.
Presidential candidates Ben Carson and Sen. Rand Paul, R-Ky., have backed a flat tax. Others are considering similar plans.
Christie, speaking at the University of New Hampshire at Manchester, maintained his plan was aimed at helping the middle class, and criticized President Barack Obama for not doing so.
“This administration has been focused much more on redistribution of wealth than on creating more wealth for middle-class citizens in America," Christie said.
Critics of flat or lower top rates say such plans often favor the wealthy. Christie said his plan would help sustain an economic growth rate of 4 percent annually.
Christie, who has been far behind in most polls, has said he’ll decide by the end of next month whether he’ll seek the Republican nomination.