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November 10, 2017
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Senate GOP Reveals Details of Sweeping Tax Bill

powerful real estate lobby
but would ignore a House
compromise on the hot-
button issue of state and
local tax deductions.
On the other side of the
Capitol, the House Ways
and Means Committee
approved its own version
of the legislation on a par-
ty-line 24-16 vote, amid in-
tense political pressure on
the GOP to push forward
on the irst major rewrite of
the U.S. tax code in three
decades. It’s President
Donald Trump’s top priority
and a goal many Repub-
licans believe has grown
even more urgent in the
wake of election losses on
Tuesday that displayed
an energized Democrat-
ic electorate. Yet as the
Senate Finance Commit-
tee unveiled its bill, a few
stark differences emerged
with the version approved
by the House tax-writing
committee, underscoring
From left, Senate Judiciary Committee Chairman Chuck Grassley, R-Iowa, Senate Majority Leader Mitch McConnell, R-Ky., Senate the challenges ahead in
Finance Committee Chairman Orrin Hatch, R-Utah, Treasury Secretary Steven Mnuchin, President Donald Trump’s top economic getting both chambers to
adviser Gary Cohn, and Sen. Rob Portman, R-Ohio, speak at a news conference as work gets underway on the Senate’s version of
the GOP tax reform bill, on Capitol Hill in Washington, Thursday, Nov. 9, 2017. (AP Photo/J. Scott Applewhite) agree on the complex and
far-reaching legislation
By A. TAYLOR / M. GORDON the details of their sweep- rate tax cut despite strident leave the prized mort- that would affect nearly
Associated Press ing tax legislation Thursday, opposition from the White gage interest deduction every American.
WASHINGTON (AP) — Sen- including a one-year delay House and others in their untouched for homeown-
ate Republicans revealed in plans for a major corpo- own party. Their bill would ers in a concession to the Continued on Page 3