President Donald Trump’s drive to overhaul the U.S. tax system will reach a major milestone on Thursday, when Republicans in the House of Representatives unveil their long-awaited initial legislation.
The bill will be the starting gun for a frantic race toward what Trump and his fellow Republicans in the House and Senate hope will be their first major legislative victory: the enactment this year of a package with up to $6 trillion in tax cuts over the next decade for corporations, small businesses and individuals.
Congress has not succeeded on comprehensive tax changes since 1986, when Ronald Reagan was in the White House and Democrats controlled the House.
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