Tax Law Changes 2018, 7 &8 of 10

The 2018 tax brackets

In President Trump's campaign tax plan, he proposed reducing the number of tax brackets from seven to three, and the House of Representatives' original tax reform bill contained four brackets. However, the final bill kept the seven-bracket structure but with mostly lower tax rates.

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For comparison, here are the 2018 tax brackets that were set to take effect under previous tax law.

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