Yesterday’s release of the Republican’s “Tax Cuts and Job Act” fulfills a long-anticipated campaign promise dating back to 2016. At 429 pages, the proposed legislation is still being carefully reviewed and assessed, but we’ve learned enough about it to offer an initial reaction.
First, I’m grateful for tax reform and tax cuts for the middle class. In the current proposal, the Child Tax Credit will go to $1600 from $1000, plus an additional $300 credit for each parent and non-child dependent.