| | The Republican-dominated House passed a sweeping overhaul of the tax code Thursday that cuts the top corporate rate dramatically and gives individuals and families lower rates while taking away deductions and credits. The vote was a victory for House Speaker Paul Ryan, who predicted a tax bill would pass before Thanksgiving and needed to show his party could deliver on a major campaign promise. But House passage is only the first step in what could be a difficult process, and the final bill could look different. A tax plan being considered in the Senate has different tax rates, business rules and phase-outs. Senate Republicans can afford to lose just three votes if all the Democrats vote against it, and already Sen. Ron Johnson, R-Wis., said he won't vote for the current plan.
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