Lobbyists See A Billion-Dollar Boon In Tax Rewrite’S Loss Of Element

The National Association of Home Builders, by contrast, has come out in favor of the framework, saying the lower corporate tax rate, a new 25 percent tax rate for “pass through” businesses, and protection of the low-income housing tax credit will help builders, whose businesses benefit from both renters and home buyers.
But there is perhaps no federal law that has been lobbied as assiduously as the tax code.
Its thousands of pages contain countless provisions inserted at the behest of specific groups that have an interest in protecting their benefits.
In April, the Trump administration backed away from the tax, which was not included in Wednesday’s blueprint.
“Everybody is beginning to pay attention, and there is going to be a flurry of people looking for representation,” he added.

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