ON ITS WAY

Republicans Release Final Version of Tax Bill

It eliminates the individual mandate penalty under the Affordable Care Act, among other things.

House and Senate Republicans released the final version of their tax bill on Friday afternoon after both chambers reconciled differences between the initial legislations proposed. The final agreement eliminates the individual mandate penalty under the Affordable Care Act, a stipulation of the original Senate bill but not the original House legislation. It appears more likely to pass next week after Sen. Bob Corker (R-TN) said he would vote for the bill and Sen. Marco Rubio (R-FL) indicated that his concerns about the child tax credit had been alleviated. Additionally, the bill lowers the corporate tax rate from 35 percent to 21 percent and eliminates corporate Alternative Minimum Tax (AMT).