Senate Republicans beat back an effort by Democrats to roll back Trump administration guidance on how the corporate alternative minimum tax should apply to partnerships and their partners.
The 47-51 procedural vote ends the effort by Senate Finance Committee ranking member
All Republicans voted to block consideration of the measure except for Sen. Susan Collins (R-Maine).
The guidance gives partnerships and partners the ability to choose from among multiple methods to calculate how much of a partner’s income from a partnership goes into calculating the corporate alternative minimum tax.
Democrats created ...