Passage of H.998

House bill 998, "Tax Reduction Act", was passed by the Senate this morning.  The bill reduces the income tax and will phase out the corporate income tax by 2018.  It also excludes some income that had been included in previous versions of the bill, primarily social security income.  It also give tax deductions for contributions made to charitable organizations.  The bill will now be sent to the House for concurrence.  We'll see what happens next week, but this bill is more in line with the original House version.  There are other pieces of legislation that are in the hopper that will be considered next week.  Keep watch.