The final version of the Tax Cuts and Jobs Act, passed by both the House and the Senate, will reduce taxes for nearly every household, according to an analysis from the Tax Foundation.
"To help provide a sense of how the Tax Cuts and Jobs Act would impact real taxpayers, we've run the taxes of eight example households," the foundation explains. "Our results indicate a reduction in tax liability for every scenario we estimated, with some of the largest changes in after-tax income accruing to moderate-income families with children."
The foundation says each type of family it scored had realistic characteristics so it could show how the bill's individual income tax provisions would impact various types of families with different incomes.
More here with examples..