Wednesday, December 13, 2017

GOP leaders reach tax deal, cutting corporate rate to 21% and top individual rate to 37%

Via Billy

 http://www.trbimg.com/img-5a31885f/turbine/la-na-pol-gop-tax-plan-20171213

OP leaders on Wednesday agreed on a final tax cut plan that would lower the corporate rate to 21% and drop the top individual rate to 37%, according to a Republican source briefed on the deal.

Earlier House and Senate versions of the measure would have lowered the corporate rate to 20%, but in reconciling the two plans, leaders needed to nudge up the corporate rate in order to pay for benefits elsewhere. The one percentage point increase would provide an extra $100 billion over 10 years.

More @ LA Times
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1 comment:

  1. RGRANTDecember 14, 2017 at 4:00 PM

    WOO HOO! I may get enough of my money back to buy me a Mcdonalds meal once a week extra.

    ReplyDelete

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