With the passage of the House’s tax reform bill, the Republicans have moved significantly closer to one of their key political goals. Of course, the Senate bill still needs to pass that chamber, and then the reconciled bill must pass both chambers. But the fact that the fractious Republican factions in the House have come together is a signal that passage is a real possibility. For the first time, in my opinion, the odds are now better than even. So, let’s take a look at what we know so far—and what these bills could mean for you.

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