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VOL. 41 | NO. 49 | Friday, December 08, 2017
Republicans agree on 21 percent corporate tax
WASHINGTON (AP) — Congressional aides say Republican negotiators have agreed to set the corporate income tax rate at 21 percent as part of last-minute negotiations on a sweeping tax package.
Both the Senate bill and the House bill would lower the corporate rate from 35 percent to 20 percent. But negotiators agreed to bump the rate up to 21 percent to offset revenue losses from other tax breaks, said two congressional aides.
The aides spoke on condition of anonymity because they were not authorized to publicly discuss private negotiations.
Business and conservative groups have lobbied hard to keep the corporate rate at 20 percent.
Lawmakers are working to deliver the most sweeping tax changes in more than 30 years to President Donald Trump's desk by Christmas.
—By Stephen Ohlemacher