President Bush wants to reduce the rate to 15 percent.
He said the government would try to reduce the rate of economic growth to 8 percent this year.
The goal is to reduce rates by 5 to 10 percent.
These are not cuts that reduce the rate of growth.
The committee has reduced interest rates three times since June.
This rate was reduced to 1.327 on 17 July of the same year.
The basic rate was reduced from 30% in 1983 to 25% by 1988.
He would reduce the top rate from the current 7.875 to 5.9 by 1998, a 25 percent decrease.
In Washington, reducing the rate of increase is called a "cut."
He would reduce the rate to 15.4 percent, the lowest level since 1933.
