December 14—2017 Tax Reform: Conference Committee reaches agreement reconciling Senate and House versions of tax bill.

On December 13, the Conference Committee reached an agreement in principle on reconciling the Senate and House versions of their tax bill.

Key features include:
. . . a flat corporate tax rate of 21%;
. . . a repeal of the corporate alternative minimum tax;
. . . a top individual tax rate of 37%; and
. . . an election to choose either a property tax deduction or a state and local income tax deduction, up to $10,000.