Everything You Need to Know About the Senate GOP Tax Plan
Senate Republicans released their vision for a tax-cut plan Thursday that would cut the corporate tax rate to 20 percent, with a one-year delay to 2019, as Congress moves quickly to fulfill one of the GOP’s biggest and most long-awaited goals.
The House proposal released a week earlier also would reduce the corporate rate to 20 percent from the current maximum of 35 percent, though it would take effect in 2018. The Ways and Means Committee approved the measure Thursday after releasing revisions. The measure could be changed again in the Rules Committee before it reaches the House floor.