House GOP tax bill keeps 39.6% rate for high earners, cuts corporate rate to 20%
Story Date: 11/3/2017

 

Source: ROLL CALL, 11/2/17

House Republicans’ long-awaited tax overhaul bill will keep the top individual rate at 39.6 percent for high-income earners and will immediately and permanently cut the corporate rate to 20 percent.  The legislation seeks to revamp the tax code in a major way for the first time since 1986, incorporating long-sought goals of congressional Republicans to keep more money in the pockets of individuals and families and boost incentives for businesses by closing loopholes.

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