US Republicans promote tax reform bill but reported that the corporate tax cut o

The tax reform proposed by the U.S. House of Representatives Republican Party made progress on Tuesday. Ratings agency Fitch pointed out that this proposal will greatly increase the budget deficit and provide only a temporary boost to the economy.

When the House Ways and Means Committee considered amendments to the proposed tax reform, the debate on tax reform quickly shifted to the Republican Senate, which makes up only a modest majority; while Democrats shelled the tax reform program from benefiting the rich and the business.

Senate Republican leader Mitch McConnell said he and his colleagues will post tax reform proposals on Friday, but his office later said in a statement that McConnell had "misleading", suggesting the tax bill would be in this Week ended when baked.

A senior Republican said the House plans to vote on its proposal next week.

According to the Washington Post, the Senate motion may postpone the reduction of corporate tax for one year, allow no deductibility of local property taxes, and disagree with the reduction of the current seven-figure personal income tax rate to the fourth grade proposed by the House of Representatives.

Trump said it will take action to stimulate economic growth, tax reform has been one of his priorities. But since Trump came to power in January, the Republican party has not yet been able to secure a major legislative victory, despite the party's control of both Houses of Parliament and the White House.