GOP
leaders on Wednesday agreed on a final tax cut plan that would lower
the corporate rate to 21% and drop the top individual rate to 37%,
according to a Republican source briefed on the deal.
Earlier House and Senate versions of the measure would have lowered the corporate rate to 20%, but in reconciling the two plans, leaders needed to nudge up the corporate rate in order to pay for benefits elsewhere.
Among those benefits will be a drop in the rate paid by the richest Americans, a risky move since President Trump and GOP leaders have tried to portray their sweeping plan as aimed at the middle class.
The original House plan retained the current 39.6% top rate while the Senate version lowered it to 38.5%.
http://www.latimes.com/politics/la-na-pol-gop-tax-plan-20171213-story.html
Earlier House and Senate versions of the measure would have lowered the corporate rate to 20%, but in reconciling the two plans, leaders needed to nudge up the corporate rate in order to pay for benefits elsewhere.
Among those benefits will be a drop in the rate paid by the richest Americans, a risky move since President Trump and GOP leaders have tried to portray their sweeping plan as aimed at the middle class.
The original House plan retained the current 39.6% top rate while the Senate version lowered it to 38.5%.
http://www.latimes.com/politics/la-na-pol-gop-tax-plan-20171213-story.html
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