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.