How the GOP Tax Bill Will Affect the Economy
On November 16, the House passed its version of the Tax Cuts and Jobs Act, a bill that would reform the tax code by lowering marginal rates for most households, corporations, and small businesses. The Senate Finance Committee reported its version of the bill out of committee on November 16, and the full Senate is expected to take up the bill in the week of November 27. Though the complete details are yet to be finalized, both the House and Senate versions have enough in common that it is possible to estimate the effect this bill would have on the economy in the long run.
Source: heritage.org
