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Highlights of House, Senate GOP Plans to Overhaul Tax Code

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A comparison of a Republican-written tax bill approved Thursday by the House Ways and Means Committee and another being proposed by GOP members of the Senate Finance Committee:

—Personal income tax rates: House condenses current seven brackets to four: 12, 25, 35 and 39.6 percent. Senate retains seven brackets but changes them to 10, 12, 22.5, 25, 32.5, 35 and 38.5 percent. Under current law, top bracket is 39.6 percent.

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