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GOP tax proposal gains support, but opposition remains

National Federation of Independent Business endorses House bill after changes, but housing groups continue to blast effort

Nov. 17, 2017
By Walt Williams

More business groups are lining up to back a proposed overhaul of the U.S. tax system proposed by House Republicans, but the proposal still faces stiff opposition from several influential associations.

The Tax Cuts and Jobs Act would lower the corporate tax rate while eliminating many existing tax deductions to pay for tax breaks elsewhere. House and Senate Republicans have unveiled different versions of the plan. So far business groups have shown more enthusiasm for the House effort, in part because the Senate plan delays a proposed cut in the corporate tax rate until 2019, whereas the House bill would implement the cut next year.