Ray Keating, Chief Economist with the Small Business & Entrepreneurship Council expains the new tax reform plan. The House and Senate plans both would reduce the individual income tax rate as applied to business profits. The House would cap the top rate for such income at 25 percent, while the Senate supplies a deduction worth 17.4 percent of qualified business income. Keating’s latest book published by SBE Council is titled Unleashing Small Business Through IP:  The Role of Intellectual Property in Driving Entrepreneurship, Innovation and Investment and it is available free on SBE Council’s website here.