Republicans Release Tax Plan

“Republican lawmakers are unveiling the most sweeping rewrite of the tax code in decades, outlining a plan to cut taxes for corporations, reduce them for middle-class families and tilt the United States closer, but not entirely, toward the kind of tax system long championed by businesses,” the New York Times reports.

“The House plan, released after weeks of internal debate, conflict and delay, is far from final and will ignite a legislative and lobbying fight as Democrats, business groups and other special interests tear into the text ahead of a Republican sprint to get the legislation passed and to President Trump’s desk by Christmas.”

Washington Post: “The release of the proposal accelerates a frantic political effort that could impact almost every American household and business. In a number of cases, the tax plan cuts back on tax benefits for families and individuals while expanding tax benefits for companies.”

Axios has a good summary of what’s included in the proposal.