Senate Republicans are keeping seven income tax brackets in their tax overhaul, but they are changing the rates that would apply to your income.
Under current law, the seven tax brackets are 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent and 39.6 percent.
In the bill passed late Thursday by the Senate Finance Committee, the new rates would be 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 38.5 percent.
The full Senate is expected to vote on the bill after Thanksgiving.
See below to get a sense of what your bracket will be next year under the proposal.