Latest GOP tax bill ups benefits for ultra-wealthy for 3rd time

Those earning $1 million would also save more under the conference committee's version. Those earning $300,000 to $500,000 would not see a change between the Senate and conference committee's plans since their incomes do not hit the top bracket.

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Most Americans will see a slight increase in their take-home pay under the current proposals. But all of that may change as many provisions are set to expire. Some analysts have said that nearly half of Americans would see a tax increase if that happens.

Exactly how much taxpayers will save if Republicans succeed in overhauling the US tax code will depend on many factors. And as it stands now, a final bill has still not been revealed.