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    Republicans Propose Big Tax Cuts, But Target Popular Deductions

    A proposal being unveiled Thursday seeks to permanently cut corporate taxes to 20 percent. It would reduce the number of tax brackets and cap deductions on mortgage interest and local taxes.
    by Scott Horsley Nov 02, 2017 2 minutes
    Speaker of the House Paul Ryan, surrounded by American families and members of the House Republican leadership, introduces tax reform legislation on Thursday in Washington, D.C. / Win McNamee / Getty Images

    Updated at 12:31 p.m. ET

    House Republicans unveiled a draft tax bill on Thursday, calling for deep cuts in both individual and corporate tax rates.

    "With this bill, we will grow our economy by delivering more jobs, fairer taxes, and bigger paychecks to Americans of all walks of life," said Rep. Kevin Brady, R-Texas, chairman of the House Ways and Means Committee.

    The rollout, originally scheduled for Wednesday, was postponed to give bill drafters more time. They're still struggling to find

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