Factbox: Republican side-deals build support for Senate tax billWASHINGTON (Reuters) - U.S. Senate Republicans were considering a raft of last-minute changes to their sweeping tax bill on Friday, as they edged toward a final vote that could move Congress to year-end enactment of tax cuts for businesses and individuals. Deals include a higher tax deduction for owners of pass-through businesses and a phase-out of full expensing for business capital investments.  To pay for these changes, Republicans say they will no longer repeal the alternative minimum taxes for corporations and individuals and will raise tax rates on the repatriation of corporate profits held overseas. Senate Republicans have yet to unveil a final bill for adoption. But here is an unofficial list of anticipated changes, according to lawmakers and lobbyists.  * PASS-THROUGHS: Senators Ron Johnson and Steve Daines announced their support for the tax bill after securing agreement on a bigger tax break for the owners of pass-through enterprises, including small businesses, S-corporations, partnerships and sole-proprietorships. An original 17.4 percent deduction would rise to 23 percent. * FULL EXPENSING: Senator Jeff Flake, who was a holdout over deficit concerns, agreed to vote “yes” after Republican leaders agreed to change a provision allowing the full expensing of business capital investments to sunset after five years. Flake worried that Congress would be unable to eliminate the benefit cold turkey, allowing it to bleed red ink for years to come. But the Arizona Republican says the change would instead phase out full expensing over three years beginning in year six. * RETIREMENT SAVINGS: Senator Susan Collins said she persuaded Republican leaders to retain catch-up contributions to retirement accounts for church, charity, school and public employees. * MEDICAL EXPENSES: Collins also said she was able to include language to reduce the threshold for deducting unreimbursed medical expenses for two years to 7.5 percent of household income from 10 percent.  * STATE AND LOCAL PROPERTY TAXES: Collins has proposed an amendment that would retain a federal deduction for up to $10,000 in state and local property taxes. * INDIVIDUAL ALTERNATIVE MINIMUM TAX: Rescinding a proposed repeal of the AMT and instead increase exemption levels and phase-out thresholds is also on the table. * CORPORATE ALTERNATIVE MINIMUM TAX: So is rescinding a proposed repeal of the corporate AMT. * REPATRIATION: Another change could be to increase tax rates on U.S. corporate profits held overseas to 14 percent for liquid assets and 7 percent for illiquid holdings, up from 10 percent and 5 percent, respectively. politicsNews
factor republican build support senate tax billwashington reuters senate republicans considering raft changes sweeping tax bill friday edged toward final vote could move congress enactment tax cuts businesses individuals deals include higher tax deduction owners businesses full expensive business capital investments to pay changes republicans say longer repeal alternative minimum taxes corporations individuals raise tax rates repatriation corporate profits held overseas senate republicans yet unveil final bill adoption but unofficial list anticipated changes according lawmakers lobbyists senators ron johnson steve dates announced support tax bill securing agreement bigger tax break owners enterprises including small businesses partnerships an original percent deduction would rise percent full expensive senator jeff flake handout deficit concerns agreed vote yes republican leaders agreed change provision allowing full expensive business capital investments sunset five years flake worried congress would unable eliminate benefit cold turkey allowing bleed red ink years come but arizona republican says change would instead phase full expensive three years beginning year six retirement savings senator susan collins said persuaded republican leaders retain contributions retirement accounts church charity school public employees medical expenses collins also said able include language reduce threshold reducing unreimbursed medical expenses two years percent household income percent state and local property taxes collins proposed amendment would retain federal deduction state local property taxes individual alternative minimum tax residing proposed repeal amt instead increase exemption levels thresholds also table corporate alternative minimum tax so residing proposed repeal corporate amt repatriation another change could increase tax rates corporate profits held overseas percent liquid assets percent liquid holdings percent percent respectively politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Factbox: Republican side-deals build support for Senate tax billWASHINGTON (Reuters) - U.S. Senate Republicans were considering a raft of last-minute changes to their sweeping tax bill on Friday, as they edged toward a final vote that could move Congress to year-end enactment of tax cuts for businesses and individuals. Deals include a higher tax deduction for owners of pass-through businesses and a phase-out of full expensing for business capital investments.  To pay for these changes, Republicans say they will no longer repeal the alternative minimum taxes for corporations and individuals and will raise tax rates on the repatriation of corporate profits held overseas. Senate Republicans have yet to unveil a final bill for adoption. But here is an unofficial list of anticipated changes, according to lawmakers and lobbyists.  * PASS-THROUGHS: Senators Ron Johnson and Steve Daines announced their support for the tax bill after securing agreement on a bigger tax break for the owners of pass-through enterprises, including small businesses, S-corporations, partnerships and sole-proprietorships. An original 17.4 percent deduction would rise to 23 percent. * FULL EXPENSING: Senator Jeff Flake, who was a holdout over deficit concerns, agreed to vote “yes” after Republican leaders agreed to change a provision allowing the full expensing of business capital investments to sunset after five years. Flake worried that Congress would be unable to eliminate the benefit cold turkey, allowing it to bleed red ink for years to come. But the Arizona Republican says the change would instead phase out full expensing over three years beginning in year six. * RETIREMENT SAVINGS: Senator Susan Collins said she persuaded Republican leaders to retain catch-up contributions to retirement accounts for church, charity, school and public employees. * MEDICAL EXPENSES: Collins also said she was able to include language to reduce the threshold for deducting unreimbursed medical expenses for two years to 7.5 percent of household income from 10 percent.  * STATE AND LOCAL PROPERTY TAXES: Collins has proposed an amendment that would retain a federal deduction for up to $10,000 in state and local property taxes. * INDIVIDUAL ALTERNATIVE MINIMUM TAX: Rescinding a proposed repeal of the AMT and instead increase exemption levels and phase-out thresholds is also on the table. * CORPORATE ALTERNATIVE MINIMUM TAX: So is rescinding a proposed repeal of the corporate AMT. * REPATRIATION: Another change could be to increase tax rates on U.S. corporate profits held overseas to 14 percent for liquid assets and 7 percent for illiquid holdings, up from 10 percent and 5 percent, respectively. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: factor republican build support senate tax billwashington reuters senate republicans considering raft changes sweeping tax bill friday edged toward final vote could move congress enactment tax cuts businesses individuals deals include higher tax deduction owners businesses full expensive business capital investments to pay changes republicans say longer repeal alternative minimum taxes corporations individuals raise tax rates repatriation corporate profits held overseas senate republicans yet unveil final bill adoption but unofficial list anticipated changes according lawmakers lobbyists senators ron johnson steve dates announced support tax bill securing agreement bigger tax break owners enterprises including small businesses partnerships an original percent deduction would rise percent full expensive senator jeff flake handout deficit concerns agreed vote yes republican leaders agreed change provision allowing full expensive business capital investments sunset five years flake worried congress would unable eliminate benefit cold turkey allowing bleed red ink years come but arizona republican says change would instead phase full expensive three years beginning year six retirement savings senator susan collins said persuaded republican leaders retain contributions retirement accounts church charity school public employees medical expenses collins also said able include language reduce threshold reducing unreimbursed medical expenses two years percent household income percent state and local property taxes collins proposed amendment would retain federal deduction state local property taxes individual alternative minimum tax residing proposed repeal amt instead increase exemption levels thresholds also table corporate alternative minimum tax so residing proposed repeal corporate amt repatriation another change could increase tax rates corporate profits held overseas percent liquid assets percent liquid holdings percent percent respectively politicsnews