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House Republicans postpone rollout of tax bill
House Republicans have postponed the release of their tax bill, a congressional aide told The New York Times Tuesday night.
Instead of Wednesday, the bill will be unveiled on Thursday. Over the past several weeks, House Republicans have been holding closed-door meetings, attempting to fill in the tax framework President Trump released in September.
Speaking to conservative groups on Tuesday afternoon, House Speaker Paul Ryan (R-Wis.) announced that the draft bill would immediately cut the top corporate tax rate to 20 percent and would phase in full repeal of the estate tax over several years, a meeting attendee told the Times. Much of the bill remains a mystery, including if the top income tax rate will go up or down and how it would affect pretax retirement savings.