Deal clears the way for final votes next week on a package that would slash taxes for wealthy Americans and lower the tax rate for corporationsRepublicans in Congress reached a deal on final tax legislation on Wednesday,clearing the way for final votes next week on a package that would slash taxes for wealthy Americans and lower the tax rate for corporations.
Under an agreement between the House of Representatives and the Senate, the tax map would reduce the corporate tax rate to 21%, or one percentage point higher than the 20% rate earlier bills had proposed. It would still impress a dramatic fall from the current rate of 35%,a deep tax reduction that corporations have sought for years. Related: Kansas's ravaged economy a cautionary tale as Trump plans enormous tax cuts for wealthy Related: McConnell: tax cuts will be popular when people see they are paying less Continue reading...
Source: theguardian.com