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Ways and Means Republicans release detailed tax reform proposal
House Ways and Means Committee Republicans have unveiled a tax reform legislative draft that, among other things, calls for ambitious cuts to tax rates for corporations, passthrough entities, and individuals; a more generous expensing regime; significant increases to the individual standard deduction and the child tax credit; repeal of the estate tax and the individual alternative minimum tax; and a shift to a territorial system for taxing foreign-source income of US multinationals.

https://www2.deloitte.com/us/en/pages/tax/articles/tax-news-and-views-newsletter.html