What will the Republican tax bill mean for the rest of us? (David Cay Johnston)

Last Saturday in the early morning hours, Senate Republicans passed a bill containing the most substantial changes to the US tax code in several decades with a 51-49 vote almost entirely along party lines. The 479-page tax bill, the final version of which included what Democratic Senator Jon Tester of Montana described as “hand-scribbled policy  changes on it that can’t be read” was dropped on the Senate only a few hours before they were asked to vote on it. Though the bill now goes to conference with both the Senate and the House of Representatives to resolve differences  between the versions approved by the two Congressional bodies before it is sent to the President’s desk, most Washington DC insiders see little  chance of the Republican tax reform plan failing to be ratified in a version close to what the Senate just approved. So what does that mean or the rest of us? In celebration of the 50th episode of TrumpWatch  with Jesse Lent, we welcome back one of our favorite guests, David Cay Johnston, the author of “The Making of Donald Trump” and founder of the nonprofit news site DCReport.org, to break down the major changes afoot in America's tax code.