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We’re thankful for a new family credit and expanded child tax credit
NRCC | November 22, 2017

This week is all about family and giving thanks, which is why we’re thankful the Tax Cuts and Jobs Act puts American families first:

The House bill takes the child credit from $1,000 to $1,600, below the $1,800 or $2,000 that Messrs. Rubio and Lee want. The House bill also creates a new $300 credit for each person in a filer’s family who isn’t a child, including the primary taxpayer and non-child dependents such as college students. For example, a married couple with two children in 2018 and making $60,000 would see their tax bill drop to $472 from $1,608.

That means a huge break for American families. This is on top of the fact that the bill increases the standard deduction and drastically simplifies our tax code.

What a perfect reason to be thankful.

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