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Caps mortgage interest rate deductions at $750,000. and caps the state and local tax deductions at $10,000. now, on the tax brackets that we've been talking so much about, this actually, this proposal, this bill that they are voting on keeps 7 personal incomes tax brackets. lowest stays there with 10%. but lowers top individual rate. down from 39.6% to now 37%. so a lot of details with massive massive tax overhaul. but again at the end of the day today, republicans looking for a win. >> sunlen, thank you so much. we'll ta in close contact with you and keep your eyes on the screen here on the h...

But they left open to the almost exclusive benefit of the wealthy. and as we keep saying, the trump family and many others in commercial real estate are winners. the lowered pass through rate could bring their taxes down from 39.6% to as low as 29.6%. new language added to the bill at the last minute would help this group maximize tax benefits. now let's switch over to the losers. many individual tax filers. while all tax brackets would get a cut off the top as stephanie pointed out, the individual rates expire -- the individual tax cuts expire in 2025. by 2027, 53% of americans would be payin...

First, republican leaders have been trying to sell the tax plan as a gift just in time for christmas. before today's vote, the top democrat in the house called it a scam. >> this is the worst bill to ever come to the floor of the house. with stiff competition for what some of the things they've tried to do. the worst bill in history. >> this bill favors the republican. the democrats are making that argument and it especially favors big corporations. here's what's in it. the plan slashes the tax rate for corporations from 35% to 21%. for individuals, the top rate drops from 40 -- 39.6 to 37%. t...

>> no republican senators and i can understand the perspective of other states. but new jersey is a sending state, not a receiving state. i think that has to be taken into consideration. >> in other words you send more to washington than you get back. mr. dent, i'm interested in your vote. you're giving up the congress, but you're voting pro-business. aren't you? >> well, yeah. i'm leaning yes. i'm still reviewing the bill. >> the top rate goes from 39.6 down to 37. that's a huge bundle of money for wealthy people. if you make in the millions, these are $100,000 for every million you make tax ...

With what's in it. the corporate tax rate. this is the big one they have been wanting. there's seven different brackets. so it still stays at seven. it was going to be at one point three. here's what's in it. the corporate tax rate goes down to 21% in 2018. ends amt for corporations. boosts individual amt. there is an exemption up to a million for families. sets top tax rate at 37%, down from 39.6%. standard deduction doubled. it will cut 30% down to 6% on people who itemize. repeals the individual mandate. 20% for pass-through income. keeps the estate tax. a.b., this is not what paul ryan pro...