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On November 9, the Senate Finance Committee released its version of the Tax Cuts and Jobs Act. The Senate Finance Committee press release stated the bill would provide "fiscally responsible middle-class tax relief by cutting tax rates across the board, reducing the tax burden on American job creators and modernizing our tax system."
The Senate Finance Committee release summarized the main provisions of their comprehensive tax bill.
Tax Rates - There are seven brackets ranging from 0% to 38.5%. The top rate applies to taxpayers with income over $500,000 for single filers and $1 million for... More