Washington CNN —  

Members of the Trump administration outlined the broad strokes of his new tax proposal Wednesday, which would cut the top individual tax rates from 39.6% to 35%.

It would also reduce the number of total rates from seven to three and cut the top tax rate for all businesses to 15%, far below the current top rates.

Here’s the one-page handout the White House distributed to reporters to explain their plan:

1-page Trump tax