Senate GOP tax bill could delay corporate tax cut and make other major changes

Senate Republican leaders are considering a one-year delay in the implementation of a major corporate tax cut, four people familiar with a draft of the legislation said, a move that would postpone a centerpiece of the GOP tax plan in order to comply with Senate rules.

This change would lower the corporate tax rate from 35 percent to 20 percent in 2019, not 2018 as currently constructed by a House GOP bill.

To ensure that companies don’t postpone major investment decisions and wait for the lower rate in 2019, Senate Republicans are considering allowing companies to immediately deduct capital investments in 2018 from their taxable income, the people said.

The people spoke on condition of anonymity because they were not authorized to discuss sensitive deliberations.

https://www.msn.com/en-us/news/politics/senate-gop-tax-bill-could-delay-corporate-tax-cut-and-make-other-major-changes-that-break-sharply-with-house-plan/ar-BBEHASy?li=BBnb7Kz&ocid=edgsp