The Obama administration is reportedly preparing to seek a major reduction in the corporate tax rate. According to Politico, U.S. Treasury Secretary Timothy Geithner will issue a proposal to lower the top corporate tax rate from the current 35 percent to as low as 26 percent. An administration official said the proposal “would send a reassuring signal to the economy, and is something both parties should support in theory.” A business lobbyist called corporate tax reform “the easiest piece” of congressional negotiations on the economy “because you have people in both parties in the business community.”