(Bloomberg) – House and Senate Republicans are working this week on compromise tax-overhaul legislation in an effort to send it to President Donald Trump by the end of the year. Here are the latest developments, updated throughout the day:
White House backs off of 20% rate red line (2:28 p.m.)
The White House continues to signal openness to a tax overhaul that features a corporate rate higher than 20 percent.
"Fifteen is better than 20, 20 is better than 22 and 22 is better than what we have," White House Press Secretary Sarah Huckabee Sanders said Thursday during a press briefing. Still, she added: "Our focus has been on getting the lowest corporate rate possible."
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