Senate Republicans on Thursday released their long-awaited tax overhaul legislation. Despite having considered including a repeal of the individual mandate under Obamacare, the GOP decided against it. Such a repeal is not included in the House bill, either, despite a push by conservative Republican lawmakers for it to be included. The Congressional Budget Office had determined that scrapping the individual mandate would result in 13 million more Americans being uninsured by the year 2027, but would reduce the federal deficit by around $338 billion. The Senate legislation breaks from the House bill on the issue of the corporate tax rate, which would not be cut until 2019. The corporate tax cut in the House bill would take effect in 2018.
