Huge Tax Bill Heads for Passage as GOP Senators Fall in Line
After weeks of quarrels and qualms and then 11th-hour horse-trading, Republicans revealed their huge national tax rewrite late Friday, along with announcements of support that all but guarantee approval next week. The legislation would slash tax rates for big business and lower levies on the richest Americans in a massive $1.5 trillion bill that the GOP plans to pass through Congress before the year-end break. Benefits for most other taxpayers would be smaller. "This is happening. Tax reform under Republican control of Washington is happening," House Speaker Paul Ryan of Wisconsin told rank-and-file members in a conference call. "Most critics out there didn't think it could happen. ... And now we're on the doorstep of something truly historic." According to the 1,097-page bill, today's 35 percent rate on corporations would fall…