corporate rate

Podcast: Trip Wires Await the GOP Tax Proposals
The Week Ahead, Episode 79

From left, Sen. Debbie Stabenow, D-Mich., ranking member Sen. Ron Wyden, D-Ore., chairman Sen. Orrin Hatch, R-Utah, and Sen. Chuck Grassley, R-Iowa, participate in the Senate Finance Committee markup of the "Tax Cuts and Jobs Act" on Wednesday, Nov. 15, 2017. (Photo By Bill Clark/CQ Roll Call)

Roll Call reporters Lindsey McPherson and Niels Lesniewski, who cover the House and Senate, walk us through the hurdles that Republicans have to overcome to pass the legislation.

Show Notes:

House GOP Tax Bill Keeps 39.6% Rate for High Earners, Cuts Corporate Rate to 20%
Ways and Means Chairman Kevin Brady gathering feedback for changes to be made before Monday markup

House Ways and Means Chairman Kevin Brady, seen here during the September rollout of the GOP’s tax overhaul framework. (Bill Clark/CQ Roll Call file photo)

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.