Trump, child tax credit
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The 2017 tax cuts temporarily boosted the maximum child tax credit to $2,000 from $1,000. The House-passed bill makes the $2,000 credit permanent and also raises the maximum credit to $2,500 from 2025 through 2028. After 2028, the maximum credit would drop back down to $2,000 and be indexed to inflation.
The child tax credit could get boosted to $2,500 under a Republican proposal. But millions of children would be excluded.
The bill would boost the tax break to as much as $2,500 but end it for children of undocumented immigrants and married parents who file separate returns.
Should Trump succeed in swaying Republican holdouts and passing the 1,116-page bill as is, there is good news for child tax credit beneficiaries, who would see a temporary $500 increase to $2,500 ...
The House-passed bill includes a large tax cut, as well as more money for defense and immigration enforcement, financed in part by slashing health, nutrition, education and clean energy programs.
Immigrant tax filers face a harsher tax code than citizens in some important respects. Sweeping tax legislation recently passed by the House of Representatives would apply new or stricter limits for immigrant tax filers to 10 additional areas of the tax code.
With a price tag topping $5 trillion, the bill promises immediate relief but ignites fierce debate over its long-term fiscal impact. Here’s what you need to know.
President Donald Trump says his tax bill, which won approval from a key congressional committee on May 18, would lower taxes for all Americans. It's “increasing take-home pay for the typical family by thousands of dollars per year,