Days before Republicans unveiled their sweeping tax cut plan, the chairman of the powerful Ways and Means Committee had one last person to consult. He went to the White House.

Moody's downgrade of the U.S. sovereign credit rating has elicited mixed responses among Republicans in Congress, with some questioning the motive behind the change and others depicting it as a warning that lawmakers should heed as they wrestle with a sweeping tax and budget bill.

Wealthy Americans and business investors are among the big winners in GOP draft tax legislation, while immigrants and elite universities get hammered.