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What you need to know about the GOP tax plan

The GOP tax plan framework will be released today. Photo: J. Scott Applewhite/AP

The Trump administration and congressional Republicans are releasing the framework of a tax plan that substantially lowers most individual and corporate tax rates. While it includes some key policies — like the elimination of the deduction for state and local taxes — it leaves many crucial details to congressional committees to fill in.

What's next: Now that this plan is on paper, the blowback is going to be intense. Everyone has a stake in the tax reform fight, and everyone is going to be very loud about what they want.