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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.
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?
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.
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).
In the lead up to Election Day, presidential candidates had big ambitions for the future of the child tax credit, which is set to expire next year. That looming deadline means Congress will have ...
Sen. Josh Hawley (R-Mo.) is proposing a huge expansion of the child tax credit (CTC), setting up a potential fight with budget hawks as GOP lawmakers work to hash out their priority tax bill.
Donald Trump, the 47th president of the United States, will address a joint session of the United States Congress on Tuesday, March 4, 2025. [1] It will be his fifth public address before a joint session.
(The Center Square) – Homeschool groups have concerns about President-elect Donald Trump’s proposed tax credit as Illinois lawmakers look at regulating the practice. Trump, in a video posted ...