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Good morning.

Here’s what you need to know:

Understanding the tax plan.

• Business is the big winner in the $1.5 trillion overhaul of the tax code the House unveiled on Thursday, though the bill offers modest savings for middle-class families. We compiled six charts to explain the plan.

For individuals, the proposal would limit the popular mortgage interest deduction and cap the state and local tax deduction. But it doesn’t change 401(k) plans, as had been widely feared. (Here are some other nuggets in the bill.)

The architects of the bill said it would deliver a tax break of $1,182 a year to a family of four earning $59,000 a year. How would it affect your taxes? It’s too soon to predict, writes our personal finance columnist, Ron Lieber, but the benefits to the middle class may be fleeting.