House tax bill has major changes for businesses, individuals

HOUSE REPUBLICANS BEGAN releasing details on a new tax plan Thursday. / BLOOMBERG FILE PHOTO/ANDREW HARRER
HOUSE REPUBLICANS BEGAN releasing details on a new tax plan Thursday. / BLOOMBERG FILE PHOTO/ANDREW HARRER
NEW YORK - House Republican leaders began rolling out a tax bill Thursday that contains sweeping changes for business and individual tax rates, including a measure to cut the corporate tax rate to 20 percent. The bill would cap the mortgage-interest deduction on new home sales at $500,000 - a departure from the current cap of…
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