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The Child Tax Credit in Four Dimensions Source: nationalreview.com - Nov 15, 2017 Last night, Senate Republicans changed their tax bill to expand the child tax credit. That’s a very good change, in my opinion, and one that makes the overall tax reform much more worth supporting. It might be worthwhile evaluating where the bill stands in relation to where we ought to want to go with the credit. Maximum Value The case for a large child credit (outlined in the above link) suggests that each child should reduce a household’s tax bills by about $3,700. Currently, families in the most common tax bracket — the 15 percent bracket — see their tax liability fall by about $1,600 per child. The Senate bill would make that number $2,000: a solid increase. Category: General Business |
