Politics

Here are the tax plan differences the House and Senate still need to figure out

Key Points
  • The House and Senate have passed separate tax bills.
  • The chambers are expected to go to a conference committee to agree on differences.
  • Among the differences are the bills' treatment of individual tax rates, the alternative minimum tax and the Obamacare individual mandate.
Here are the tax plan differences the House and Senate still need to figure out
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Here are the tax plan differences the House and Senate still need to figure out

The House and Senate still have a ways to go before they put a tax bill on President Donald Trump's desk.

After the Senate passed a tax plan early Saturday, the chambers are expected to vote to go to a conference committee, where they can hash out differences. If the House and Senate agree on a final bill and pass it, Trump can sign it into law.

Rep. Kevin McCarthy: We can have tax reform done this year
VIDEO4:4004:40
Rep. Kevin McCarthy: We can have tax reform done this year

The chambers still have key differences to nail down. The proposals treat several significant tax policies differently: individual tax rates, the alternative minimum tax, the mortgage interest deduction, the estate tax and the repeal of Obamacare's individual mandate.

In a CNBC interview Monday morning, House Majority Leader Kevin McCarthy took stances on some of those provisions.

Scroll through to see the major features of both plans.

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