Senate vs House Tax Brackets

House 5 brackets                      Senate 7 brackets

0%     $1 to $24,000

10%                                           $9,525 to $19,050

12%   $24,000 to $90,000         $19,050 to $77,400

22%                                           $77,400 to $140,000

24%                                           $140,000 to $320,000

25%   $90,000 to $260,000

32%                                           $320,000 to $400,000       

35%   $260,000 to $1 Million     $400,000 to $1 Million

38.5%                                         $1 Million or more

39.6% $1 Million or more

The Senate brackets make more sense for the higher brackets.

A couple earning $33,525 would subtract the $24,000 Standard Deduction and places the extra $9,525 as taxable income will pay 10% of $1.

If another couple earns $43,050, they will pay 10% of $19050 or $1905 in federal tax. If they had 2 or more children they may pay more federal tax in 2018 than they will for their 2017 taxes. See Senate brackets below:

CNN Senate Bill

Senate 7 brackets at 10%, 12%, 22%, 24%, 32%, 35%, 38.5% for couples earning over $470,700

The Senate bill also calls for seven brackets but changes the rates on taxable income to:

- 10% (income up to $9,525 for individuals; up to $19,050 for married couples filing jointly) 
- 12% (over $9,525 to $38,700; over $19,050 to $77,400 for couples) 
- 22% (over $38,700 to $70,000; over $77,400 to $140,000 for couples) 
- 24% (over $70,000 to $160,000; over $140,000 to $320,000 for couples) 
- 32% (over $160,000 to $200,000; over $320,000 to $400,000 for couples) 
- 35% (over $200,000 to $500,000; over $400,000 to $1 million for couples 
- 38.5% (over $500,000; over $1 million for couples)

http://money.cnn.com/2017/12/02/pf/taxes/senate-tax-bill-passed/index.html

Norb Leahy, Dunwoody GA Tea Party Leader