“Lawmakers say passage of a major tax deal has increased the chances that Congress will tackle tax reform in 2017,” The Hill reports.
“The $680 billion tax bill approved last week gives hopes for reform a major boost, supporters say, by altering the budget baseline in a way that could make it easier to lower the 35 percent corporate tax rate — one of the highest in the world.
Reducing that rate has long been a goal for Republicans, who argue it makes the U.S. less competitive on the global stage. In addition, few corporations actually pay the 35 percent rate because of tax breaks throughout the system.”