(Worthy News) – House and Senate Republicans will take up separate tax reform proposals next week as they race to complete legislation by the end of the year.
The Senate kicks off its tax reform effort on Monday when it begins marking up the Tax Cuts and Jobs Act, which would provide $1.5 trillion in tax savings by cutting individual, small business and corporate tax rates.
Senate Republicans unveiled their proposal on Thursday to generally positive reviews from GOP lawmakers, although many complained that the plan delayed the corporate tax rate until 2019. Senate Finance Committee Chairman Orrin Hatch, R-Utah, suggested the legislation may change in his committee next week as lawmaker mark up the bill. [ Source: Washington Examiner (Read More…) ]