[Wonkblog: The GOP tax plan, explained in simplest possible terms]Next year, a household earning between about $48,000 and $86,000 would save $660 on its taxes. Among households earning between $150,000 and $217,000, a third would start paying more as soon as the plan went into effect. The Senate Finance Committee and House Ways and Means Committee will have until Nov. 13 to draft tax bills that cost no more than $1.5 trillion in lost revenue. The tax plan would increase the deficit by $2.4 trillion over the first decade, the center found. Ways and Means Committee Chairman Kevin Brady (R-Tex.)

Source: Washington Post September 29, 2017 23:26 UTC