On Wednesday, the House approved a sweeping overhaul of the U.S. tax code, which President Donald Trump is expected to sign into law soon.
Although it's being billed as a tax cut, many people may end up paying more, CNBC's John Schoen reports.
As for how it will affect individuals, in general, the more you earn, the more you'll save on taxes. The Institute on Taxation and Economic Policy ran the data to estimate how much individual households may fare under the new rules, which Schoen compiled into a helpful interactive graphic here.
The poorest Americans will be hit the hardest, but the middle class will feel the burn as well. Because the income required to be considered "middle class" varies from state to state — and from individual to individual, depending on your definition of the term — we've highlighted the share of returns among the second, third and fourth 20 percent of earners that will get a tax cut and tax hike in each state.
Keep in mind that these estimates aren't definitive. "The new rules are so complex that two taxpayers in the same neighborhood with the same household income could see very different tax bills," reports Schoen.
"A focus on the average impact of the tax bill overlooks the specific impact on each individual tax return," he adds. "Some households will see big savings; others will get hit with large increases."
Below, we've included data for how middle class taxpayers may fare in 2019. Because the tax plan spans 10 years, check out the projections for 2027 here.