washington u.s. senate republicans unveil tax plan thursday differ house representatives version several key front include treat corporate tax rate tax deduction state local tax estate tax complicate republican push big overhaul u.s. tax law since 1980s senators say like house want slash corporate tax rate 20 percent 35 percent 2019 right away house set vote measure next week tax-writing ways mean committee approve legislation thursday along party line democrats unite opposition senate timetable less clear formal bill yet draft chamber republicans much small majority narrow path win approval legislation let alone one contentious tax package president donald trump tour asia republicans reiterate goal enact final legislation end year happen would trump first major legislative accomplishment since take office january stock rally year hop business tax cut decline detail two plan emerge investors worry divergence house senate senate propose corporate tax rate cut delay broad sense house senate plan match call deep tax cut high-earners businesses dramatic reshape unite state tax multinational corporations big winners plan become law democrats largely ignore closed-door draft bill condemn giveaways rich businesses little ordinary americans white house economic adviser gary cohn hand ammunition comment cnbc interview say excite group big ceos tax plan white house issue statements praise ways mean committee tax-writing senate finance committee express confidence progress would make election wake-up victories democrats state local elections virginia new jersey elsewhere tuesday increase urgency republicans control white house congress make good campaign promise tax go get finish line house speaker paul ryan say add house would approve whatever senate pass house-senate conference committee would need reconcile differences one big disagreement two chamber concern deduction available americans state local tax salt keen concern taxpayers high-tax typically democratic-leaning state california new york new jersey connecticut massachusetts senate plan would entirely repeal salt deduction house bill would repeal state local income sales tax preserve property tax 10,000 democratic senate leader chuck schumer new york say repeal salt deduction part republican proposals would hurt middle- upper-middle-class americans pass plan help republicans climb hole ... bill could political doom say floor senate republicans need especially unite give slim 52-48 majority another point friction estate tax inheritances senate would leave book increase exemptions few people pay house would increase exemptions repeal tax six-year period senate call keep exist seven tax bracket cut top tax rate highest-earning taxpayers 38.5 percent 39.6 percent house want reduce number bracket leave 39.6 percent top rate alone senate would close loophole allow private-equity fund managers wealthy wall street financier pay capital gain tax rate carry interest income instead high wage rate house plan leave tax break place restrict claim another divide need bridge chamber call slap mandatory tax 2.6 trillion foreign profit hold offshore u.s. multinationals senate want tax 12 percent cash liquid assets percent non-liquid assets house amend bill thursday go 14 percent percent respectively tweak bill expect continue days ahead lobbyists descend capitol hill seek favor house senate measure would add 1.5 trillion 10 years budget deficit national debt problem long ago would draw republican criticism turn deficit hawk extinct republican party california nancy pelosi democratic leader house say statement senate case 1.5 trillion figure legislation permit add deficit order allow republicans use procedural maneuver know reconciliation pass bill simple majority estimate release thursday even congress nonpartisan joint committee taxation senate proposal fall within upper limit although bill yet codify legislative language duel republican tax plan advance congress