Raising kids is just about the most selfless thing people can do. It’s expensive—and sometimes thankless—but more often than not, it’s deeply rewarding. Not to mention, everyone is better off when we’re surrounded by good neighbors raised by good parents surrounded by strong families. Parents have enough on their plates. Our tax code should make raising a family as easy as possible.
The Status Quo
· Around 40% of parents say their child care costs have increased by $1,000 or more per year.
· Prices of clothing, food, vehicles, and food have all gone up.
· Meanwhile over the past 20 years, tuition at private universities have jumped 157% and tuition for out-of-state students at public universities have risen 194% while for in-state students it has increased 237%.
The House Republican tax plan will help people raise children. We will:
· Increase the child tax credit from $1,000 to $1,600.
· Provide a credit of $300 for every parent and non-child dependent, such as a grandparent or college student.
· Bring back jobs and cut taxes, creating an economic environment where the average American family could see $4,000 more in their paychecks each year.
On top of all of that, the average family of four earning the median U.S. income of $59,000 per year will receive a tax cut of $1,182. In fact, the first $55,000 a family of four earns won’t be taxed a single cent.
Why We’re Doing This
Almost everyone wants to have kids. In America, we’re in the business of realizing our dreams, not getting in their way. Our tax code can and should make life easier for every single family by putting more money in their pockets.
Learn more at fairandsimple.gop, or click the links below to see how our bill helps: