No more child tax credit under Musk&Trump

Currently, parents can get a tax credit of up to $2,100 for child care expenses. The House Republican plan floats the elimination of that break. The cut is estimated to save $55 billion over a decade. Vance, in particular, had promised economic policies that would lessen the load on parents. “It is the task of our government to make it easier for young moms and dads to afford to have kids,” he said last week. (He campaigned on a proposal to more than double the child tax credit.) Another proposal in the list of options takes aim squarely at parents raising children on their own. The provision would eliminate the “head of household” filing status to collect almost $200 billion more in taxes over a decade from single parents and other adults caring for dependents on their own. Article continues at link