The revealing differences between the House and Senate tax bills

The House and Senate tax bills look very similar — but they still have some crucial differences

The House vs. the Senate.
(Image credit: BRENDAN SMIALOWSKI/AFP/Getty Images)

Eventually, if the GOP dream of tax reform is to be realized, the House and Senate tax plans will have to be unified into a single, coherent whole. But for now, each chamber's proposal remains separate and distinct. And we can learn a lot from the differences.

Let's start with cutting the federal tax rate that corporations pay on their profits from 35 percent to 20 percent. This is the crown jewel of the GOP's tax reform aspirations, and both the House and Senate include it as a centerpiece of their plan. But while the House would cut the tax right away in 2018, the Senate would delay it until 2019.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.