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BREAKING NEWS - House passes sweeping corporate tax reforms

[JURIST] The US House of Representatives late Thursday passed a sweeping corporate tax reform package intended to end a trade war with Europe and give over $136 billion in tax breaks to businesses, farmers and other groups in what has been described as the most ambitious rewrite of corporate tax laws in almost 20 years.

The vote in the House was 280-141; the package now goes to the Senate, which is likely to approve it by the end of the week. Review the text of HR 4520, billed as the American Jobs Creation Act.

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