Senate Republicans are keeping seven income tax brackets in their tax overhaul, yet they are changing the rates that will could apply to your income.
Under current law, the seven tax brackets are 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent along with 39.6 percent.
inside bill passed late Thursday by the Senate Finance Committee, the fresh rates could be 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent along with 38.5 percent.
The full Senate can be supposed to vote on the bill after Thanksgiving.
See below to get a sense of what your bracket will be next year under the proposal.