The house of representatives embarked on the revision of bill for taxes

Republicans hope to resolve differences and pass a bill before the end of the month

Faced with pockets of discontent in their own ranks, Republicans in the House of representatives this week will attempt to settle differences over large-scale tax reform and to meet their stated term, taking the bill to the end of the month.

The Committee on tax legislation begins revision of the bill on Monday and is expected to make minor amendments and some substantive changes to the proposals on taxes for individuals and corporations.

Last week Republicans in the House of representatives presented the first version of the 429-page bill that, if adopted, will be the largest reform of the U.S. tax system since the 1980-ies.

The authors of the bill offer a number of tax cuts designed to help business, including to reduce the tax rate for corporations from 35 percent to 20 percent and to install a 25-percent rate for companies with through taxation, which are currently paid in the budget to 39.6 percent.

The speaker of the house of representatives Paul Ryan in an interview with Fox News said that currently, it is considered a lot of ideas, but he believes that, in General terms, the bill will retain its essence. Active opposition from lawmakers from States with high taxes cause the proposal to abolish the tax deduction for payments to the budget of States and local governments while preserving the tax deduction on the property with a limit of $ 10,000 per year.