A lot of households under the GOP tax plan, which President Trump is set to sign into law this week, will see a lower tax bill in the next several years.
The nonpartisan Joint Committee on Taxation estimates that in 2019, more than half of filers making $40,000 and up will see an average tax cut greater than $500. That trend holds for income groups over $50,000 in the subsequent years measured through 2025.
