Stories

Here's the summary of the Senate tax plan

Here's what will be in the Senate tax plan. Photo: J Scott Applewhite / AP

The Senate tax plan will have key differences from the House tax bill, according to a two-page summary by the Finance Committee. It will preserve the current lowest tax rate of 10 percent and lift the child tax credit to $1,650, slightly higher than the House. It also preserves several popular tax deductions.

Why this matters: Like the House, the Senate will now work through the plan in committee to address member demands.