I think you may be looking at an older version of the bill - the latest one restores the 10% bracket...
@Snarknado Thanks for your post - glad I was wrong about the deducation and rate - it was changed since the last time I checked the new tax plan. I went to AARP for the latest on the tax plan, and was delighted to see this:
"The tax plan also maintains the extra standard deduction for those 65 and older, currently $1,250 for individuals, $1,550 for heads of households and $2,500 for couples who are both 65 and older.
Tax rates. Individual tax brackets would be set at 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent, and would expire in 2025."
People complain about AARP but when I needed supplemental insurance for Medicare, UnitedHealthCare plan there was the cheapest for me and they don't raise the rate as I get older. I also bought Nursing Home Care there from a major insurance company many years ago and one can't get that anymore since govn. got into that business through Medicare, but those who bought that insurance back then still have it. I am covered if I have to go to a nursing home. I also have a hospital plan there through another major insurance company and get paid an amount of money per day if I am in a hospital. If I am in ICU, the amount is double. I had that insurance on my husband and he was in ICU many days - I got a $10,000 dollar payment from that insurance company due to that.
I don't care what their politics are - I needed those insurances and it was all cheaper there. Their membership rate per yr. has never changed for all these years - still $16 for a year and if you have a spouse, it is free for them (I don't think that part has changed).
People dump on AARP, but it has saved me a great deal of money over the years.