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House Senate Tax Plan Comparison senate tax plans Standard Deduction Both plans roughly double the current standard deduction but the new one is slightly higher in the House plan than in the Senate one 12 200 vs 12 000 for single filers House Senate Tax Plan Comparison brackets 2018 trump tax plan The Senate s bill proposes keeping seven tax brackets but changing the income ranges while the House s version of the bill would reduce the number of tax brackets to four tax Dec 03 2017 Under the House bill the tax rates would be 14 for liquid assets and 7 for illiquid assets Under the Senate bill the tax rates would be 14 49 for House Senate Tax Plan Comparison to compare senate house The Senate plan would have a top tax rate of 38 5 percent while the House would leave it at 39 6 percent Both top rates start at income of 500 000 for single filers and 1 million for joint filers 10 2017 Watch video About an hour before the House Ways and Means Committee approved a swe...