The Child Tax Credit (CTC) is all the rage these days. Democrats and Republicans both are advancing proposals to increase the maximum value of the CTC and make it available to more families. We have developed a web application to accompany our recent report. Design Your Own Child Tax Credit Reform allows any user to compare popular current proposals or choose the parameters of their own preferred custom CTC reform.
Since 1917, tax filers with children have received ever-increasing federal income tax benefits. The tax benefits include deductions for each child or other dependent, lower tax brackets for head-of household filers compared to single filers with similar incomes, and tax credits for children and childcare expenses.
There is currently a debate among policy analysts and commentators about whether the Tax Cuts and Jobs Act of 2017 (TCJA) was “pro-family.”
A Giving USA report released last week shows that US households’ charitable donations in 2018 experienced the largest decline since the Great Recession. We hate to say we told you so, but we told you so.
