Congress May Soften Corporate Tax Cut
They’re open for business. Though President Trump demanded a deep slash in the corporate rate, from the current 35 percent to 20 percent, Republicans in the Senate are reportedly wavering on the number as they open their tax reform bill for debate. By raising the corporate rate to 21 or 22 percent, moderates say they could preserve the child tax credit — but others refuse to go above 20 percent. A vote is expected as early as tonight, via a fast-track procedure that will also let lawmakers offer unlimited amendments.