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After last night's initial pass, reading through the Tax Cuts and Jobs Act legislative text in deeper detail today. Full write-up coming to Nerd's Eye View blog on Monday morning.

In the meantime, will be sharing some (threaded) highlights here...
Original Tax Reform proposal from President Trump would have narrowed from 7 tax brackets down to 3. The House GOP proposal would have kept 4 brackets (plus a 5th phase-out bracket of 45.6% for upper income folks).

Final TCJA keeps the 7 tax bracket structure, but trims rates.
Top tax bracket for individuals comes down to 37% under TCJA (from 39.6%), but the removal of the Pease limitation (which was effectively a 1.2% income surtax on the top bracket) means the top rate cut is really from ~40.8% down to 37%.
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