By  on November 3, 2017

A Republican-drafted, Trump-approved tax bill is getting positive reviews from the retail industry, as many companies are slated to receive one of the most generous corporate tax rates in history.

The reform plan, proposed Thursday by the House under the title “Tax Cuts and Jobs Act” after a less detailed version was put forward in September, calls for permanently cutting the corporate tax rate to 20 percent from 35 percent, which could result in an estimated $1.5 trillion tax reduction for companies over the next decade.

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