How Would the Republican Tax Plan Affect You? Find Out With This Simple Calculator

House Republicans have introduced a proposal to dramatically rewrite the U.S. tax code, offering across-the-board cuts and eliminating various taxes and deductions.

Called the Tax Cuts and Jobs Act, the legislation would reduce the number of tax brackets from seven to five, nearly double the standard deduction and reduce the corporate tax rate from 35% to 20%.

But how would it affect you personally?

Given the complexity of the changes, it's hard to say exactly.