Reuters news agency reports today that as the House of Representatives was unable to move the American Heath Care Act forward, Republicans look at a new prospect, tax reform. The report states that divisions in the Republican party was the cause of the inability to pass the American Heath Care Act. Regarding the failure of the American Heath Care Act and the tax reform ahead, House of Representatives tax committee Chairman Kevin Brady said, “This made a big challenge more challenging. But it’s not insurmountable”. The report states Brady’s tax proposal will reduce the corporate tax rate from 35 to 20 percent, end taxing foreign profits for US based multinationals, and cut other tax rates for businesses and investors.
Reuters report found here: http://www.reuters.com/article/us-usa-congress-taxation-idUSKBN16V2S0