House and Senate GOP leaders have forged an agreement on a sweeping overhaul of the nation’s tax laws. That paves the way for final votes next week to slash taxes for businesses and give the most people tax cuts starting next year.
Top GOP aides are saying that the deal was reached on Wednesday. They spoke on the condition of anonymity because they were not authorized to speak publicly about the deal.
The details still need to be drafted and assessed by congressional scorekeepers, but the final House-Senate compromise is on the track to be unveiled this week. The measure would actually give President Trump his first major victory in Congress.
It fulfills a longstanding goal by top Republicans, such as Speaker Paul Ryan, to rewrite the loophole-cluttered tax code. The measure has come under assault by Democrats who say that it is unfairly tilted in favor of business and the wealthy people.