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Republicans unveiled the final version of the Tax Cuts and Jobs Act early Friday evening [Dec. 15], paving the way for their first major legislative win of the 115th Congress.
GOP lawmakers are expected to pass legislation providing the largest overhaul of the U.S. tax code in 31 years before the end of next week.
The $1.5 trillion tax package includes seven individual tax brackets falling at 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent. The plan reduces rates for the majority of Americans and small businesses, with top income earners seeing their rate drop from 39.6 percent to 37 percent. DailyCaller