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The Senate drops its version of the tax bill. How it’ll complicate negotiations




U.S. Senate Majority Leader Sen. Mitch McConnell (R-KY) (C) speaks as Senate Finance Committee Chairman Sen. Orrin Hatch (R-UT) (R), and Sen. Chuck Grassley (R-IA) (L) listen during a meeting with members of the Senate Finance Committee November 9, 2017 at the Capitol in Washington, DC.
U.S. Senate Majority Leader Sen. Mitch McConnell (R-KY) (C) speaks as Senate Finance Committee Chairman Sen. Orrin Hatch (R-UT) (R), and Sen. Chuck Grassley (R-IA) (L) listen during a meeting with members of the Senate Finance Committee November 9, 2017 at the Capitol in Washington, DC.
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On Thursday, one week after House GOP released their draft of the tax proposal, Senate Republicans unveiled their version of the tax-cut plan.

The Senate version preserves seven individual tax brackets, which the House version cut down to four. The Senate bill also delays the corporate tax-rate break by one year and gets rid of state and local tax income as well as property deductions, which will have significant implications for California.

What are the differences between the tax bills? What would each version mean for Californians? And how do these bills move forward?

Guest:

Eric Wasson, congressional reporter at Bloomberg News; he’s been following this story; he tweets @elwasson