washington - The Republicans in the Senate and the House of Representatives have agreed on the largest reform of the American tax system in more than 30 years. The plan states, among other things, that the profit tax will be reduced from 35 to 21 percent from the start of 2018.
The tax for the highest incomes will also decrease from 39.6 percent to 37 percent. The Senate and the House of Representatives are expected to vote on this final version of the tax plan next week. That probably happens Tuesday.
Democrats have strongly criticized the tax plan. They say that it is especially beneficial for the richest and that the middle class will benefit little. Two Republican senators who previously had reservations about the measures, Marco Rubio and Bob Corker, have joined the plan yet.