The second stage of House Republicans' tax reform plan will aim to make individual cuts passed last year permanent and ease rules around retirement savings, according to details shared with CNBC on Thursday.
The plan comes out two months ahead of November's midterm elections, where Republicans are trying to prevent Democrats from winning a House majority largely by arguing their policies have boosted economic growth. The GOP tax plan passed last year, which made steep, permanent cuts to the corporate tax rate, has not caught on with the public the way the party had hoped.
Earlier Wednesday, House Speaker Paul Ryan said he hopes to hold a floor vote on the plan later this month. The House has a busy month ahead of it, as Congress tries to pass a spending bill by the end of September to avert a government shutdown.
The House GOP argues its new tax proposals will help to boost economic growth and aid small businesses.
This story is developing. Please check back for updates.
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