The Tax Benefits of Parenthood: A History and Analysis of Current Proposals
February 23, 2021
Key Points
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Under current policy, the federal government provides $209.4 billion in tax benefits for filers with children through five major provisions: the child tax credit (CTC), the earned income tax credit, the dependent exemption (scheduled to return in 2026), the head-of-household filing status, and the child and dependent care tax credit.
