How the Tax Cuts and Jobs Act Will Impact the Average American

Congress recently passed the Tax Cuts and Jobs Act, which is the most dramatic change to the U.S. tax code in over 30 years. GOP leaders in Congress claimed that the bill would cut taxes for middle-income Americans and working families, as well as spur economic growth.

With that in mind, here's a look at what the Tax Cuts and Jobs Act could mean for the average American in 2018. While it certainly appears to be a tax cut for middle-income Americans, there are also two big caveats Americans need to know about.

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Source: Fool.com