Article snippet: Senate Republicans on Thursday unveiled a tax reform bill that breaks with the House in significant ways, taking into account various objections from constituents and special interest groups to the House plan. If the House Republican bill was a first draft of tax reform, the Senate bill is the first rewrite. “I like it better than what I saw in the House version,” said Sen. MORE (R-S.D.). “The Senate was able to learn a lot from what the House found it. The Senate bill attempts to mollify opposition from two important special interest groups, the National Association of Home Builders and the National Federation of Independent Business. But it will likely draw strong opposition from moderate House Republicans in wealthy suburban districts whose constituents take big deductions for local taxes. Here are the key differences between the Senate and House bills. State and local taxes The Senate bill will entirely repeal the deduction for state and local taxes, making no exception for property taxes. The House bill, in a bid to win support from moderate Republicans, would allow deductions up to $10,000 for property taxes. Senate Republicans see little need to allow property tax deductions as they don’t have members in their conference from high-tax states such as California, New York, New Jersey and Illinois. Senate Democratic Leader MORE (N.Y.) is trying to exploit the difference by calling on House GOP moderates to kill tax reform. Reps. MORE (R-Va.), Ed Royce (R-... Link to the full article to read more