Tax Bill Push

Washington DC – The Senate’s top tax writer says the new GOP Senate overhaul bill will bring “much-needed tax relief to American workers and families.”Sen. Orrin Hatch is the chair of the Senate Finance Committee. His panel is launching into work on the Senate version of Republican tax legislation that steeply cuts corporate taxes, doubles the standard deduction, and aims at the biggest revamp of the U.S. tax system in three decades.Hatch is downplaying a new analysis by congressional tax experts showing that 13.8 million moderate-income households actually would see their taxes increase in 2019 under the Senate proposal. The Utah Republican says “a relatively small minority of taxpayers could see a slight increase in their taxes.”

The committee’s senior Democrat, Sen. Ron Wyden of Oregon, says the legislation has become “a massive handout to multinational corporations and a bonanza for tax cheats and powerful political donors.”

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