GOP/TAXES: “The highest-earning Americans will get a lower tax rate and corporations will pay slightly more than in previous plans under a deal House and Senate Republicans reached on the party’s competing tax-overhaul bills.
Full details of what is likely to be a $1.4 trillion tax cut over a decade will be released this week. If the House and Senate both pass the measure in votes that could come next week, President Donald Trump could sign it into law before Christmas…
Republicans hashed out the agreement without input from Democrats in advance of a formal meeting of the bipartisan House-Senate conference committee on Wednesday, and they announced the deal just before heading to a lunch at the White House with Mr. Trump. Democrats complained about the closed process, but to no avail.
The agreement would set the top individual tax rate at 37%, two people familiar with the deal said. That is lower than today’s 39.6% and lower than the top rate in each of the bills that passed the House and Senate.”
-Richard Rubin and Siobhan Hughes, “House, Senate Republicans Reach Deal on Final Tax Bill,” The Wall Street Journal online, Dec. 13, 2017 10:26pm