It will effect families who make something like 65K to like 150K, going from 12% to 25% (the new tax brackets). Of course, they make sure to make this take effect after the next general elections. In the meantime, the people who would likely vote for Trump will get tax breaks and praise his name and then if he gets re-elected, THEN the tax rates kick in and it's like 'Uh, Der, what happened Gomer.' Of course, the genius of it is the medical rates probably go up for the people who are getting tax cuts now, and then Medicaid, medicare and Social Security benefits will go down in the future along with their tax rates going up in the future. So Yay, Republians! And goodbye to the middle class. “The beating heart of our plan is a tax cut for working families,” Trump said this week. “That’s what it is. We’re going to make sure that you keep more of your hard-earned money. We’re going to make sure, also, that you have a job that you want.” This is not true. Indeed, families in the middle of the income distribution would on average see no benefit from the plan as of 2027, whereas families at the top would be paying far less in taxes and many families at the bottom would actually be paying more. One reason is that the legislation changes the way that the tax brackets get adjusted year after year to account for the effect of inflation. More families would get pushed into higher tax brackets sooner under the Republican plan, so they would end up paying more in taxes, even though the marginal rates would be lower. In addition, Republicans have gone after a number of provisions in the current code—the state and local tax deduction and the medical expense deduction, for instance—that help many middle-class and upper-middle-class families.'