WASHINGTON (AP) – 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 most people tax cuts starting next year.
Top GOP aides say the deal was reached on Wednesday. They spoke on condition of anonymity because they were not authorized to speak publicly about the deal. Details still need to be drafted and assessed by congressional scorekeepers but the final House-Senate compromise is on track to be unveiled this week.
The measure would give President Donald 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 it is unfairly tilted in favor of business and the wealthy.
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