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The fiscal blueprint, written by Senate Budget Chairman Lindsey Graham, R-S.C., gives the authorizing committees until March 7 to fill in the details and provide their respective pieces of the package
The minimum tax is aimed at preventing the largest corporations, those earning at least $1 billion, from paying very low effective tax rates.
But that limit comes off in 2026, and an all-Democratic Congress might seek immediate repeal. And charities, already chafing under the 2017 law’s higher standard deduction, would cry foul.
A few hours earlier Meadows had expressed hope a deal could come together by the 7 p.m. House Republican Conference meeting.