washington u.s. senate tax-cut bill differ one house representatives expect unveil thursday complicate republican tax overhaul push increase skepticism wall street effort house tax committee work bill members senate weigh new approach corporate tax deductions state local tax estate tax inherit assets senators say provide detail john cornyn senate republican tell reporters senators would brief bill thursday release house senate republicans work separate plan big overhaul u.s. tax code since 1980s president donald trump house ally propose slash corporate tax rate 20 percent 35 percent one costly feature wide-ranging house plan tax overhaul priority trump say boost economic growth create job republicans yet score major legislative win since take office january although control congress well white house democrats blast proposals republican tax legislation giveaways large corporations rich senator orrin hatch chairman tax-writing finance committee tell reporters would prefer delay corporate tax cut year lawmakers say possibility prefer get do say financial market rally since trump stun election victory november 2016 partly expectations congress would slash tax businesses stock market close little change wednesday investors focus chance tax bill become law think disappointment republicans kick tax bill around ... things leak encourage say bucky hellwig senior vice president bb wealth management birmingham alabama late version house bill would add 1.7 trillion federal deficit 10 years say nonpartisan congressional budget office tally cost legislation would violate rule require legislation add 1.5 trillion deficit representative kevin brady republican chairman house tax committee say would revise legislation thursday bring compliance report nonpartisan tax policy center think tank say big tax cut would go high-income households current bill would raise tax one four taxpayers 2027 expiration certain benefit include 300 family credit top earners incomes 730,000 would get 21 percent benefit 2018 nearly 50 percent decade report say house bill would repeal tax deduction americans take state local income sales tax preserve business owners would cap deduction state local property tax pay 10,000 republican senator david perdue tell reporters senate bill could repeal entire state local tax salt deduction concern people heavily democratic high-tax state california new york new jersey senate democratic leader chuck schumer new york say victories democrats state elections tuesday warn republicans republicans look elections last night giant stop sign tax bill schumer say enough republicans high-tax state house torpedo tax bill give democrats broadly oppose republicans slim 52-48 majority senate also may need support democrats pass version house senate must agree single version send president republican senator susan collins whose vote crucial decline say senate bill would duplicate house propose estate tax repeal tell reporters certainly true express reservations complete repeal washington tax expert raise concern house provision create 25 percent tax rate pass-through businesses say would little help small business vulnerable abuse pass-through businesses include mom-and-pop enterprises large private company organize publicly trade corporations profit pass owners individual income tax rat high 39.6 percent steven rosenthal senior fellow tax policy center say new pass-through rate would add great complexity provide plenty opportunity clever investors business owners ... game system addition propose 20 percent excise tax mean discourage foreign company shift u.s. profit offshore appear dead say chris krueger analyst financial firm cowen washington research group tax amend house committee complaints multinational company one real safeguard plan ... go say clark gascoigne deputy director fact coalition liberal tax activist group washington tax-cut debate u.s. congress swing senate bill