9 Sticking Points The House And Senate Have to Work Out In Their Tax Bills
Now that the Senate has passed its own version of a tax bill, lawmakers have to iron out differences with the House bill. The final product could then be sent to the president to be signed into law.
House and Senate Republicans have now passed two different versions of a sweeping tax overhaul. Their next step is to iron out differences between the two bills, so the final product can be sent to the president to be signed into law.
Both the House and Senate bills call for deep cuts in the corporate tax rate — from 35, that cut would take effect next year. , the lower rate would begin a year later. The two bills differ in a number of other ways, including their treatment of individual taxes and so-called "pass-through" businesses that are taxed at the individual rate of their owners.
