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Nine differences between the House and Senate tax plans — and how they would affect you

Source: https://usatoday.com/story/news/politics/2017/11/10/nine-differences-between-house-and-senate-tax-plans-and-how-they-would-affect-you/850263001/ - Nov 10, 2017

About an hour before the House Ways and Means Committee approved a sweeping tax overhaul Thursday, the Senate Finance Committee unveiled its own plan. Here are some of the differences between the two proposals, which are moving simultaneously through Congress.

Brackets: The House has four: 12%, 25%, 35% and 39.6%. The Senate keeps seven but lowers them all: 10%, 12%, 22.5%, 25%, 32.5%, 35% and 38.5%.

Child tax credit: Increases from $1,000 to $1,600 in House bill, $1,650 in Senate bill per child.

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Category: General Business