9 Key Differences in The Senate's Tax Bill
The United States Senate released details of its version of a tax reform bill on Thursday, and in many key ways it is consistent with the Tax Cuts and Jobs Act released by House of Representatives leaders a week ago. For example, the new bill would reduce the corporate tax rate to 20%, repeal the alternative minimum tax, increase the standard deduction, and repeal many popular itemized deductions.
However, there are some major differences between the two bills, and this could pose a problem if both bills pass their respective chambers. Here are nine of the biggest differences Americans should be aware of in the Senate's tax bill, based on what we know so far.
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Source: Fool.com
