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In 2017, during his first term in office, President Trump expanded the child tax credit to $2,000 from its previous level of $1,000, of which $1,600 is refundable. ... Which Will Be Cheaper in 2025?
The child tax credit under the Tax Cuts and Jobs Act of 2017. Top plateau would be higher for more children. Under the Tax Cuts and Jobs Act of 2017 (TCJA), for the years 2018–2025 (excluding 2021, see below section Temporary Expansion in 2021) the CTC allows taxpayers to reduce their federal tax liabilities by $2,000 per qualifying child (see Eligibility).
Under the TCJA, key changes were made to individual tax laws, including the near-doubling of the standard deduction and increasing the child tax credit to $2,000, from $1,000.
In 2017, Trump's Tax Cuts and Jobs Act raised the child tax credit amount from $1,000 to $2,000 and made it available to families earning up to $400,000, instead of those earning up to $110,000.
A historic 2025 tax debate is formally underway. A lot of the early focus is on an issue well known to pretty much every taxpayer: the child tax credit.
Vice President-elect JD Vance has suggested expanding the child tax credit to $5,000. Trump has not commented on the proposal. ... These tax credits were expanded through 2025 as part of the 2022 ...
While many Trump-era tax cuts are due to expire by the end of 2025, ... but the child tax credit will also be reduced from $2,000 per qualifying child to $1,000. The $500 credit for other ...
[49] Roberts said in April 2024 that he had talked to Trump about Project 2025; the Trump campaign denied this. [57] Vice President JD Vance wrote the foreword to Roberts's book Dawn's Early Light: Taking Back Washington to Save America. [58] Some have claimed that Vance is connected to Project 2025 through shared views on policy matters. [59 ...