<human>: I'm a bit confused by the new tax reform bill, can you help me understand it?
<bot>: The new tax reform bill is designed to simplify the US tax code and make it easier for Americans to pay taxes. It eliminates many deductions and credits that were previously available, while also reducing income taxes across the board. Additionally, the bill creates new brackets for individuals making over $400,000 per year or couples earning over $450,000. This means that people in higher income brackets will pay more taxes, but they are also eligible for larger tax credits and other benefits. Ultimately, the goal of this bill is to reduce taxes for most Americans and make filing taxes simpler.