Republican leaders on Wednesday agreed on a revised plan to cut taxes that would lower the corporate rate from 35% to 21% and drop the top individual rate for the richest Americans to 37%, according to GOP senators and others briefed on the deal.
House and Senate lawmakers met Wednesday on a conference committee to combine the bills from their two chambers, even though the agreement had been reached ahead of time.
“They’re grasping for a political life preserver,” said Rep. Lloyd Doggett of Texas, a top Democrat on the House Ways and Means Committee. Democratic Rep. Sander M. Levin of Michigan called the session a “mockery.”
