Precious few details have been reported in the media regarding the new tax bill. One of the most significant change would be the corporate tax hike. The Senate would prefer to give the Dems the House apparently.
Corporate rate delay
One of the most significant sections of the bill is the massive tax cut for corporations. Both bills would take the top corporate tax rate from 35% to 20%. However, the Senate cut would happen in 2019, while the House bill would have the 20% rate kick in next year. From USA Today
Here is a tracker.
Last night the Senate approved the Tax cut bill. had been tracking all of the options under discussion under the topic “How tax cuts help Americans. framework site. RPC.Senate.gov will give your the details. Worth a visit.
Tax cuts will let Americans keep more of their hard-earned money and encourage businesses to invest in jobs. This paper outlines how reforms proposed in the framework drafted by the Senate, the House, and President Trump will help Americans.