GOP Bill Offers Business Tax Breaks, Unexpected Mortgage Hit
- Year-end sprint for legislative win begins with bill’s release
- House bill took months to write, may be rewritten over weekend
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House Republican leaders began rolling out a tax bill Thursday that contains sweeping changes for business and individual taxes, including a measure to cut the corporate tax rate to 20 percent.
House Speaker Paul Ryan pledged fast action on the legislation, telling reporters he senses “ironclad” political will to revamp the U.S. tax code for the first time in 31 years.