House GOP waffles on Trump’s promised permanent cut in corporate tax rate

House Republican leaders are preparing to release their tax plan on Thursday after numerous delays, but in a late switch, they now say the initial version of their bill will not contain one of President Trump’s major promises.

House Ways and Means Committee Chairman Kevin Brady (R-Tex.) said Wednesday that the bill he will introduce would not permanently lower the corporate tax rate to 20 percent. Instead, the cut would be temporary, and that reduction would expire in around eight years, according to a person briefed on the planning who wasn’t authorized to disclose details.