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What the Senate GOP tax bill does and doesn't do

Illustration: Lazaro Gamio / Axios

The Senate has begun the debate on its version of the Republican tax bill. The bill tracks traditional conservative belief that if business tax rates are lowered, it'll boost the economy and benefit everyone. That means most cuts do go to the wealthy, but supporters say the overall benefits will be shared widely.

Why this matters: So much of what this bill actually does comes down not to numbers and rates, but theories about how the economy will respond. Ultimately, the only way to know how effective it will be is to see what happens.