Detailed text transcripts for TV channel - CNN - 20171221:06

Detailed text transcripts for TV channel - CNN - 20171221:06:29:00

celebration was republican senator susan collins even though she voted for the bill. we're learning new details about the promises senate majority leader mitch mcconnell made her about upcoming obamacare legislation. promises that are falling through. fill mat phil mattingly joins us now with more. >> phil, take us through what's actually in the final bill. >> $1.5 trillion proposal and no shortage of major components. let's start on the corporate side, it's one side republicans acknowledge they're most proud of. this is what's going to lead to the economic growth that will lead to the wage growth, that will produce what they think will actually happen with the bill. let's start with the corporate rate, there's a dramatic cut there. a cut 35% to 21%. then you have pass through entities, small business entities like s corp. or partnerships. things of that nature. they will get a 20% deduction for their businesses. these are companies that paid their tax rates through individual side. that is a major tax cut.

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