Read the full GOP tax proposal here

Key Points

Republicans made the full tax proposal public on Wednesday.

Republicans fully turned their attention to reforming the U.S. tax code on Wednesday, unveiling their proposal to dramatically lower taxes on businesses and many households.

The framework, a joint product of the Trump administration and Republican leadership, calls for lowering the corporate rate from 35 percent to 20 percent; bringing the rate for so-called pass-through businesses to 25 percent; and collapsing the current seven personal tax brackets to just three.

Read the full text of the framework here: