Taxes are going up on parents, and Republicans don’t seem to care
June 28, 2023
The Tax Cuts and Jobs Act of 2017 is the principal legislative achievement that Republicans in the nation’s capital have made during the past 15 years. There is not a lot of competition for the title. It’s still remarkable how little thought and attention Republicans are giving to its defense.
It needs defending. Some of its provisions have gotten weaker because of inflation, and some are set to expire in 2025. The tax code’s treatment of children falls into both categories. Before the law passed, many parents benefited from a $1,000 tax credit per child, plus an exemption worth about $600 per child for a middle-class family. The law got rid of the exemption but more than made up for it by making the credit worth $2,000 per child.
