On Wednesday, the House approved a sweeping overhaul of the nation’s tax code. President Donald Trump is expected to sign the legislation soon.
As for how it will affect individuals, in general, the more you earn, the more you’ll save on taxes.
“There’s clearly no question that the benefits of this tax break are going to go primarily to the top 4 percent [of earners],” Matt Gardner, a senior fellow at the at the Institute on Taxation and Economic Policy told CNBC’s John Schoen. Read more