Most Americans will see a tax cut, thanks to lower base rates, a doubled standard deduction (which ~70% of households take), and a child tax credit that is higher and more refundable. These cuts all expire in 2025, but Republicans are assuming Democrats will extend them so they're not responsible for increasing everyone's taxes. Wealthy people in high-tax and high-home-value areas (see: coastal elites) may end up paying more, because their deductions for state and local taxes and mortgage interest are capped. Anyway, those things are not the most important parts of the bill IMO. This bill is a business tax cut that also happens to have some other things thrown in. The bet is that cutting taxes for corporations and other businesses will lead to massive investment in America, and thus hiring and wage growth. This is obviously the subject of some controversy. Apart from that, cutting the individual mandate is a really big deal. As is the way that Republicans plan to pay for this bill, which is by cutting welfare programs-- which is how the poor really end up getting hurt.