Noon Edition airs Fridays at 12:00 p.m. on WFIU.

Republicans are now one step closer to passing the largest overhaul of the tax code in 30 years.

The Senate passed its version of the tax bill by a slim 51-49 vote in the early hours on Saturday morning.

There are some major differences between the Senate and House bills when it comes to keeping the Affordable Care Act's individual mandate, repealing the estate tax, and structuring tax brackets. All of these must be reconciled before the final version reaches President Donald Trump's desk.

This week on Noon Edition, our panelists discussed the potential effects of the House and Senate bills on taxation and beyond.

Guests:

Frank DiPietro: Director of the Low Income Taxpayer Clinic at Indiana Legal Services, Inc., Bloomington, IN

John Mikesell: Chancellor's Professor Emeritus, IU School of Public and Environmental Affairs

Tim Riffle: Partner at Barns & Thornburg, Indianapolis, IN

Pat Woolf: Tax and Budget Specialist, American Farm Bureau Federation

Patrick Rooney: Executive Associate Dean, Lilly Family School of Philanthropy