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Mike Pence anticipates more changes to Republican tax bill

Vice President Mike Pence said Monday that he anticipates more changes to the tax plan as the debate moves to the Senate. 

“We anticipate when the Senate bill comes forward, it will reflect on the president’s framework,” Mr. Pence said on Fox Business. “There will be changes between the two, and changes in the course of the legislative process. But we think the House bill is a great start. We look forward to the Senate bringing forward its tax cut bill.”

Mr. Pence said the negotiations continue to center around bringing the most benefit to middle-class families and to cut taxes on businesses in the interest of competing with those overseas.

“The details of how we do all of that will continue to work through the legislative process, but President Trump’s framework has been driving the development of this legislation from the outset, and it will continue to drive our negotiations,” Mr. Pence said.

The House unveiled the details of their tax proposal Thursday. The bill simplifies the tax code, such as reducing the number of brackets from seven to four with the highest earners in the top bracket.

Some of the details, like the elimination of state and local deductions, has caused Republicans in high tax states to be a little apprehensive about supporting the bill. Standard deductions overall, however, would increase to $ 12,000 for single filers and $ 24,000 for joint filers.


Source: www.washingtontimes.com stories: Politics

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