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Senate Passes Sweeping Corporate Tax Bill

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Senate Passes Sweeping Corporate Tax Bill

Economy

Senate Passes Sweeping Corporate Tax Bill

Senate Passes Sweeping Corporate Tax Bill

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  • <iframe src="https://www.npr.org/player/embed/4081281/4081282" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

The Senate passes the most wide-ranging reform of corporate tax law in nearly two decades. The "American Jobs Creation Act" eliminates some tax breaks for exporters and adds other breaks for a loosely defined group known as "manufacturers." The bill also includes a $10 billion buyout of tobacco growing quotas. NPR's David Welna reports.