to simplify the federal tax code with extreme complexity, while proposing a historic drop in the tax rate, both for businesses and for American households.

In detail, it should allow an average family to save $ 1182 in taxes a year.
Corporate tax lowered to 20%
Deductions from mortgage interest will also be reduced, and will only apply to loans of less than $ 500,000.

It Started as a Tax Cut. Now It Could Change American Life