House Budget Committee Chairman Paul Ryan will call for cutting the top U.S. income-tax rate to 25 percent from the current 35 percent as part of the GOP budget proposal for 2013.

The Wisconsin Republican's plan, to be unveiled on Tuesday, would consolidate the number of individual income tax brackets to two, from the current six, with the lower rate set at 10 percent.

It would reduce the top corporate tax rate to 25 percent, from 35 percent, while eliminating the alternative-minimum tax intended to make sure that individuals pay at least some tax, according to documents provided by Ryan’s office.

Read more on Newsmax.com: House Republican Budget to Call for Lower U.S. Income Tax Rates