US Republicans unveil tax cut bill, but the hard work awaits

(Nov 3): US House of Representatives Republicans unveiled long-delayed legislation on Thursday to deliver deep tax cuts that President Donald Trump has promised, setting off a frantic race in Congress to give him his first major legislative victory.

The 429-page bill, representing what would be the largest overhaul of the US tax system since the 1980s, called for slashing the corporate tax rate to 20% from 35%, cutting tax rates on individuals and families and ending certain tax breaks for companies and individuals.

Congressional passage of this legislation that would affect nearly every US company and family was far from certain, and some business groups quickly came out against it. Contentious provisions will test Republicans, who control the White House and both chambers of Congress but have been unable to deliver any major legislative achievements for Trump since the businessman-turned-politician became president in January.

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