08 NOV

Republican plan delivers permanent corporate tax cut

Republican lawmakers unveiled a sweeping rewrite of the tax code on Thursday, outlining a $1.51 trillion plan that will deliver a significant tax cut for corporations and more modest savings for middle-class families while tilting the United States closer, but not entirely, toward the kind of tax system long championed by businesses. The House plan, released after weeks of internal debate, conflict and delay, is far from final and immediately ignited a legislative and lobbying fight as business groups, special interests and Democrats began tearing into the text ahead of a Republican sprint to get the legislation passed and to President Trump’s desk by Christmas. Lawmakers appeared unfazed by the blowback and scheduled the first official “markup” of the bill for Monday.  Read more

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