GOP tax bill clears hurdle, heads to House floor
The House Ways and Means Committee on Thursday approved House Republicans’ bill to rewrite the tax code, advancing one of the GOP’s top legislative priorities after four days of debate.
The measure — which reduces the number of individual tax rates, slashes the corporate tax rate and eliminates many deductions and credits — was approved on a party-line vote of 24-16.
The only changes made to the bill during the markup were from amendments offered by Ways and Means Committee Chairman Kevin Brady (R-Texas).
Thursday afternoon, Brady made a number of changes to the bill which included restoring the adoption tax credit, additional tax relief for pass-through businesses and higher tax rates on repatriated foreign earnings. Brady also offered an amendment on Monday.
http://thehill.com/policy/finance/359663-gop-tax-bill-clears-hurdle-heads-to-house-floor?rnd=1510258147