(Washington, DC) — Senate Republicans plan to release their big tax cut bill this afternoon.
It is expected to be similar to a measure that is being crafted by Republicans in the House. However, one big difference likely involves state and local tax deductions. Senate Republicans want to eliminate the deductions on federal returns while the House bill would likely leave them intact.
The Senate bill is also expected to delay a big cut in corporate taxes until 2019, something that will likely annoy President Trump and House Republicans.
Democrats say GOP tax bills will primarily benefit the wealthy while blowing-up federal deficits.
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