Senate Republicans got a big win last night when the final version of their tax reform bill passed, 51-49. Here are some highlights:Under the Senate version, the corporate tax rate would be permanently lowered from 35% to 20%. The individual mandate under Obamacare would be repealed under the Senate version (the House version did not include a repeal of the mandate). The Senate bill increases the child tax credit to $2,000 (the House version would increase the credit to $1,600). The version of the bill as passed by the Senate must now be reconciled with the version of tax reform as passed by the House.

Source: Forbes December 02, 2017 14:06 UTC