If the Republican tax plan passes basically intact, investment firm Invesco recently predicted it'll satisfy Wall Street and drive stocks higher.
Moreover, there's one particular element in the proposal which could have the biggest positive impact: A permanent 20 percent corporate tax rate, a deep cut from the current 35 percent level.
Invesco's global strategist Kristina Hooper believes the odds are high the new figure will stick.
"I give this a more than 50 percent chance of surviving. To me, this is the centerpiece of the legislation," Hooper said recently on CNBC's "Futures Now."
It's been more than 30 years since the tax code has undergone major changes. According to Hooper, stocks could rally another five percent over the next several months if the bill is passed with a corporate tax rate 15 percent lower than the current level.
"If we could just get those corporate tax cuts, I think that would be very powerful," she added.
It appears the Street is behind much of the plan. The Dow hit its 58th all-time intraday high just hours after the GOP tax plan was unveiled. Hooper said small cap stocks, retail and financials as areas which could see the biggest benefits from the plan.