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7 ways tax laws could change under the Donald Trump tax plan

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President Donald Trump has a tax plan that promises to simplify household tax filings and grow the national economy. But how would it affect you, your business and your investments?

Some may also wonder how a new tax law would look after passing through the sausage-like legislative process on Capitol Hill.

Bankrate took a hard look at the Trump tax plan as well as the GOP blueprint for tax change. Read on to discover how Trump could change the tax system — and your finances.