Details of an agreement among House and Senate Republicans emerged Wednesday—including rate cuts for corporations, individuals, and pass-through businesses. Here's what tax negotiators have agreed to, according to lawmakers—and how the new plan differs from bills that passed both chambers earlier:
Corporate Rate
Joint Agreement: Cut the corporate rate to 21% from 35% beginning in 2018. House: Cut to 20% in 2018. Senate: Cut to 20% in 2019.
Top Individual Rate
Joint Agreement: Cut the top rate to 37% for the highest earners, down from 39.6%. House: Leave top rate at 39.6%. Senate: Cut top rate to 38.5%.
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