Republicans Reach Agreement On Tax Bill With More Cuts For High Earners

On Wednesday the House and Senate hold the first public conference committee meeting to iron out significant differences on the GOP tax bills — though Republican lawmakers and their staffs have already been negotiating behind closed doors for several days. Just before going into the conference, lawmakers announced they had tentatively struck a deal on changes to the bill that will further benefit the highest earning Americans, including a reduction in the top income tax bracket from 39.6 to 37 percent. 

They reportedly plan pay for this change and others by ticking up the new corporate tax rate from 20 to 21 percent—which remains a major reduction from the current 35 percent rate.