The lawmakers attracting the most concern from leadership and the White House are Sen. Ron Johnson (R-Wis.) and Steve Daines (R-Mont.), who say the current version of the bill favors corporations over other businesses.
.. Currently, in the Senate bill, these companies are allowed to deduct 17.4 percent of their income from their tax liability. Negotiators are looking at expanding that credit up to about 20 percent
.. their tax plan does not allow individuals, families, and pass-through companies to deduct their state and local taxes from their taxable income. The tax plan does allow firms that pay corporate income taxes to deduct their state and local taxes.
.. To create more parity, negotiators are considering putting new curbs on the ability of corporations to deduct state and local taxes from their income.
.. a change requested by Sen. Susan Collins (R-Maine), which would allow Americans to deduct $10,000 in local property taxes from their taxable income.
.. Making this change could cost more than $100 billion over 10 years
.. But Johnson is on the budget panel, and he could demand changes by Tuesday in order to win his vote. If he blocks the tax bill in the Budget Committee and is joined by Sen. Bob Corker (R-Tenn.), who has raised separate concerns, the package could quickly die.