News. The house and Senate Republicans are working on the tax reform legislation the Senate Finance committee begins the mark up on monday. And you have been writing about some of the key details. What are they . The important thing to say about the tax reform bill is the basic is the same. They sl big Corporate Tax cuts. The house bill would drop the corporate rate from 35 to 20 . Effective in 2018. The senate does the same thing although is delays that by a year. Both change and reduce the individual tax rate. And double the standard deduction. And both would have some tax increase for those who itemize the deductions. The big issue thats controversial in both the house and senate is the state and local tax deduction. Taken by upper, middle class individuals. In the house they would retain the ability to deduct property tax. Those are the main points that people are going to be looking at. One of the things that was surprising a bit the senate retains the medical expense deduction. Something that if you are e peel as the house does could cause hardship to those with severe medical problems. Now, from the Senate Finance committee. Who should we be paying attention to in term of the leaders on both sides of the aisle . The leaders of the committee and ron white. The history of making by part sap deals. However this is structured as a partisan tax bill. Using the Senate Budget procedure which allows republicans to pass it without democratic help. As long as they keep below is. 5 this will in revenue loss. Over ten yores. And the bird rule. Which is not increasing deficit after ten years. The current draft the initial draft of the senate bill has a bird rule problem. And will have to change that in order to maintain the ability to pass a partisan tax cut. Were likely to see the Corporate Tax cuts expire in the tenth yore. Were waiting to see the details. When will the full senate be taking this up . The full senate is slated to take it up after the thanksgiving break. Now, on the house side, the ways and Means Committee it finished its work on the house measure. Thats headed to the floor possibly thursday. What changes did the committee make to that measure . They made detailed changes especially a benefit Small Businesses. Theres a 9 tax rate for very Small Businesses with income less than 75,000. That was a key concession to the Small Business lobby and the National Federation of independent business came out in favor of the bill. After opposing it. There are major problems in the bill for some of the republicans in the house. The state and local talks detux continues to be an issue. And there are at least 23 or 24 House Republicans in districts that were won by clinton. Where theres a major majority of people. So woel be looking to sew if theres tweaks to that. It comes before the rules commit teet on wednesday. There could be an amendment to allow some of the state income tax to be deducted. But however even proponents of that change say if Speaker Paul Ryan can get to 218 votes without them theres unlikely to be a change. About 20 House Republicans voted against the measure mainly because of the limits that you talk about. To the state and local tax reduction. How much support do you think that will get from House Republicans and what about democrats . Theres really no democrats coming out on this bill. That the key question is especially whats the california delegation going to do. They mes most of them fell in line with the budget vote. Setting up the tax bill. However a key big name in the california delegation is come out against the bill. Over this issue. Looking at others like tom and ed royce. Trying to see where they will fall. So far its been the new york and new jersey delegation. That have really been lewding this charge. The margin will be tight theres a small group known as the house liberty caucus. Very big deaf fsit hawks. Who voted against the budget. And the likely to vote against this tax bill again. Over the 1. 5 trillion definite increase. A small margin to work with. On twitter. At el was son. And reporting. Bloomberg. Com. Thank you for your time. The Senate Finance committee begins work on the tax bill monday. With live coverage on cspan 3. You can watch online at cspan. Org. Or listen on the free radio app. Next. Tsa administrator