WASHINGTON ― Senate Republicans avoided the most embarrassing scenario for their tax bill Thursday ― an unexpected floor defeat that would have sent the legislation back to committee ― but they are still facing a significant stumbling block and, hours before a vote, are still changing portions of their bill. Republicans held open a 15-minute vote for 62 minutes while Corker worked through possible fixes with Senate GOP leaders. But another proposal on the table may be even more unpalatable for Republicans: raising the corporate rate. Currently, the corporate tax rate would go from 35 percent to 20 percent in both the House and Senate versions of the tax bill. (The Joint Committee on Taxation said Thursday that the Senate bill would increase debt by $1 trillion over 10 years even when projecting increased economic growth.)

Source: Huffington Post December 01, 2017 02:36 UTC