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GOP Tax Overhaul Aims for Corporate Cuts, Simpler Code

WASHINGTON—A sweeping Republican plan to overtake the U.S. tax code proposes to sharply scale back tax charges on companies and lots of folks, kicking off an effort through President Donald Trump and congressional leaders to construct momentum for a difficult legislative push within the months forward.

The plan calls for a 20% company tax fee, down from 35% as of late. Other companies, which pay their taxes via the person returns in their…

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