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First details emerge of GOP's sweeping tax bill

by NAOMI JAGODA AND SCOTT WONG | Nov 02, 2017   ()

House Republicans will propose limiting the deductions for mortgage interest and state and local taxes in the tax bill they are releasing on Thursday, according to a summary of the legislation obtained by The Hill.

The bill, called the “Tax Cuts and Jobs Act,” largely follows the parameters that GOP leaders and the White House outlined in September. It would reduce the number of individual tax brackets, slash rates for businesses and eliminate a number of tax breaks.

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Source: The Hill
Source: The Hill

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