CHART: How The Republican Tax Overhaul Would Affect You
Updated on Dec. 15 at 1:20 p.m. ET
Note: This post reflects earlier tax overhaul bills as passed by the House and Senate. For a look at the final version of the bill as passed by the House and Senate conference committee,go here.
Now that the Senate has passed its own version of a tax overhaul, lawmakers will work to iron out differences with the House version. The resulting legislation could then be sent to President Trump for his signature.
There are a number of key differences between the House and Senate tax bills. For example, the individual tax cuts in the Senate version expire after 2025. In the House bill, they don't. The two measures also differ in their treatment of certain small businesses, the mortgage interest deduction, tax brackets and the estate tax.
Here's a look at some of the changes that individual filers could expect if either the House or Senate versions is included in the final bill.
The bar chart below shows what current tax brackets brackets look like, compared with the House GOP's proposed brackets. We will update it as we get more information. The table also lays out different changes for different types of taxpayers. We will update that table as well, as new information is released.
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