The Republican tax overhaul has a lot for businesses to like — and a lot of unanswered questions for everyone else. The tax plan was met Wednesday with widespread support from GOP lawmakers on Capitol Hill and their allied groups. Pelosi specifically objected to lowering the top tax rate and eliminating the estate tax while increasing the lowest tax rate and scrapping the state and local tax deduction. The Republican plan would reduce the U.S. corporate tax rate to 20% from 35%. Trump told reporters Wednesday that he would not agree to a corporate tax rate any higher than 20%.

Source: Los Angeles Times September 27, 2017 16:28 UTC