Companies across all industries and sectors would pay an average effective tax rate of 9 percent next year under the Republican tax-overhaul bill, a Penn Wharton Budget Model study said on Tuesday.

By 2027, that average effective rate would double to 18 percent—because of some corporate tax breaks that would move off the books, according to researchers for the economic policy center at the University of Pennsylvania's Wharton School of Business.

The bill would cut the corporate tax rate to 21 percent—down from 35 percent currently—but the study examined how its various changes would affect the actual taxes companies pay on their pretax income. Because of differing deductions and tax strategies, a company's effective tax rate can vary greatly from the “statutory” rate. Currently, U.S. companies pay an average effective rate of 21 percent, according to the Penn Wharton report.

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