Tax reform bill could pass next week as House and Senate Republicans make a deal

Republicans in the Senate and the House have come to a mutual agreement on a revamped tax reform bill that could pass as early as next week.

Details of the new bill were shared with conference members on Wednesday by Senate Republicans.

An initial procedural vote will be held next Monday, followed by a Senate vote on Tuesday and on to the House for final passage before the bill hits Trump’s desk.

In an attempt to boost spirits on a bill that may well favor the upper elite, Senate Majority Leader Mitch McConnell (R-Ky.) tried to focus on what the tax reform bill would do for the middle class:

“We want to take more money out of Washington’s pocket and put more money into the pockets of the middle class. I’m confident the conference committee will finalize a bill that does just that.”

Several experts have disagreed on this point, saying that rich businessmen like Trump stand to gain the most – and lose the least – from the Tax Cuts and Jobs Act.

The corporate tax rate could be finalized at 21 percent, something the House conservatives have objected to. However, with the tax bill so close to the finish line, it’s not likely to be a deal breaker.

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