republicans u.s. house representatives due release tax legislation thursday call slash tax corporations repeal tax pay primarily wealthy adjust tax families individuals question final shape bill swirl around washington follow look basic feature plan release september though change expect reduce u.s. corporate income tax rate 20 percent current statutory 35 percent eliminate corporate alternative minimum tax move territorial tax system long impose u.s. corporate tax foreign profit u.s. company require u.s. corporations return assets hold overseas low one-time tax rat establish minimum global tax aim overseas profit u.s. corporations prevent tax base erosion pass-through businesses limit maximum tax rate small businesses non-corporate enterprises 25 percent present maximum rate pass-through income 39.6 percent allow immediate full expense capital investments least five years partially limit business tax deduction debt interest payments cut top individual rate 35 percent 39.6 percent increase standard deduction taxpayers 12,000 6,300 individuals 24,000 12,600 marry couple reduce current seven individual income tax bracket three bracket 12 percent 25 percent 35 percent consider fourth bracket rate high 35 percent high-income americans prevent shift overall tax burden higher- lower-income households partially repeal deduction state local tax payments eliminate 4,050 personal exemption taxpayers family members create substantial increase child tax credit 1,000 raise income limit qualify credit eliminate high qualify income rate marry couple create 500 tax credit taxpayers non-child dependents repeal individual alternative minimum tax high-income taxpayers repeal estate tax pay chiefly rich americans factbox republican tax bill framework