--- title: Read the Republican Tax Bill description: The GOP released a sweeping tax overhaul which will cut rates for corporations and the rich canonical: https://time.com/5067395/republican-tax-bill-plan-read-document-reform/ author: Mahita Gajanan article:opinion: false article:content_tier: free article:published_time: 2017-12-15T23:37:36.000Z article:modified_time: 2026-02-23T18:35:55.429Z article:section: Politics og:title: Read the Latest Version of the Republican Tax Bill og:description: The GOP released a sweeping tax overhaul which will cut rates for corporations og:url: https://time.com/5067395/republican-tax-bill-plan-read-document-reform/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt2ca6e38c3c23a344/6988f55ae76ad2fd12630572/gop-tax-bill.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 og:image:width: 1200 og:image:height: 675 og:image:alt: Congressional Republicans Are Scheduled To Reveal Final Details Of Thier Tax-Overhaul Legislation og:type: article twitter:card: summary_large_image twitter:title: Read the Latest Version of the Republican Tax Bill twitter:description: The GOP released a sweeping tax overhaul which will cut rates for corporations twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt2ca6e38c3c23a344/6988f55ae76ad2fd12630572/gop-tax-bill.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  # Read the Latest Version of the Republican Tax Bill by [Mahita Gajanan](/author/mahita-gajanan/) ## Mahita Gajanan Gajanan is an editor at TIME. Dec 15, 2017 11:37 PM CUT  Representative Kevin Brady, a Republican from Texas and chairman of the House Ways and Means Committee, speaks to members of the media after a meeting on tax legislation at the U.S. Capitol in Washington, D.C., U.S., on Friday, Dec. 15, 2017. Representative Kevin Brady, a Republican from Texas and chairman of the House Ways and Means Committee, speaks to members of the media after a meeting on tax legislation at the U.S. Capitol in Washington, D.C., U.S., on Friday, Dec. 15, 2017.Bloomberg—Bloomberg via Getty Images by [Mahita Gajanan](/author/mahita-gajanan/) ## Mahita Gajanan Gajanan is an editor at TIME. Dec 15, 2017 11:37 PM CUT Republicans on Friday released their finalized [tax plan](http://time.com/money/5067044/gop-tax-plan-individual-obamacare-mandate/ "undefined"), which will cut rates for corporations and the rich, with hopes of sending legislation to President Donald Trump before the year’s end. The bill presents a significant reduction for the corporate tax rate, going to 21% from 35%. The tax plan cuts rates for the wealthy and allows some tax savings for the middle class, the [Washington _Post_ reports](https://www.washingtonpost.com/news/wonk/wp/2017/12/15/the-final-gop-tax-bill-is-complete-heres-what-is-in-it/?utm%5Fterm=.c7a1835903f1 "undefined"). The bill will further [eliminate the individual mandate](http://time.com/money/5067044/gop-tax-plan-individual-obamacare-mandate/ "undefined"), a part of the Affordable Care Act that penalizes people for not having health insurance, starting in 2019. With support from Florida Sen. Marco Rubio, who said he would [not vote for the bill](http://time.com/5066952/marco-rubio-gop-tax-bill/?xid=homepage "undefined") if it did not include a more generous per child tax credit for lower income families, as well as Sen. Bob Corker, the bill appears to be on a track to pass next week. Last-minute changes by lawmakers raised the child tax credit to $1,400 from $1,100 in previous versions of the bill. Read the full tax bill below. [Republican Tax Plan](https://www.scribd.com/document/367284529/Republican-Tax-Plan#from%5Fembed "undefined") by [Mathew Katz](https://www.scribd.com/user/290502639/Mathew-Katz#from%5Fembed "undefined") on Scribd ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5067395/republican-tax-bill-plan-read-document-reform/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5067395/republican-tax-bill-plan-read-document-reform/"},"headline":"Read the Latest Version of the Republican Tax Bill","datePublished":"2017-12-15T23:37:36.000Z","dateModified":"2026-02-23T18:35:55.429Z","description":"The GOP released a sweeping tax overhaul which will cut rates for corporations","url":"https://time.com/5067395/republican-tax-bill-plan-read-document-reform/","keywords":["Congress","onetime"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt2ca6e38c3c23a344/6988f55ae76ad2fd12630572/gop-tax-bill.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Mahita Gajanan","jobTitle":"Gajanan is an editor at TIME.","url":"https://time.com/author/mahita-gajanan/"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt2ca6e38c3c23a344/6988f55ae76ad2fd12630572/gop-tax-bill.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Congressional Republicans Are Scheduled To Reveal Final Details Of Thier Tax-Overhaul Legislation","caption":"Congressional Republicans Are Scheduled To Reveal Final Details Of Thier Tax-Overhaul Legislation","creditText":"Bloomberg—Bloomberg via Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/congress/","name":"Congress"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/5067395/republican-tax-bill-plan-read-document-reform/","name":"Read the Latest Version of the Republican Tax Bill"}}]}] ```