The Latest: GOP agrees to lower top tax rate for individuals

WASHINGTON (AP) — The Latest on the Republican tax overhaul (all times local):

5 p.m.

Congressional aides say Republican negotiators have agreed to lower the top tax rate for individuals from 39.6 percent to 37 percent as the final parameters of a sweeping tax package are starting to take shape.

The agreement was confirmed by two congressional aides who spoke to The Associated Press on condition of anonymity Tuesday because they were not authorized to speak publicly about private negotiations.

The tax cut could be a windfall for the wealthiest Americans. It could also provide ammunition for Democrats who complain that the tax package is a massive giveaway to corporations and the rich.