Tax-Cut Measures Move to Center Stage

摘要

Republicans' drive for a major tax-cut bill is advancing in Congress. At ENR press time, a $ 1.4-trillion measure is heading to a House floor vote, and Senate Finance Committee action has started on a $1.5-trillion proposal from Chairman Orrin Hatch (R-Utah). But some design and construction groups are deeply worried that neither bill has enough relief for "pass-through" business entities-sole proprietorships, partnerships and S-corporations-that are widespread in their industries. Pass-throughs are taxed at individual rates. In both bills, critics say, pass-throughs don't fare nearly as well as corporations, which would get a rate cut to 20% from 35%. Hatch's plan postpones the cut until 2019.