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The House of Representatives voted to pass the Tax Relief for American Families and Workers Act with a vote of 357-70. This bill is very taxpayer friendly with most of the significant provisions being retroactively applied to prior tax years. The ten-year impact of the bill is approximately $78 billion. For producers, the biggest benefits include:● Increase in the maximum refundable portion of the child tax credit from $1,600 to $2,000, phased in through 2025. The refundable portion would be based on the number of eligible children claimed as dependents and not calculations based on income. The changes are retroactive ...

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Lamesa Press-Reporter

P.O. Box 710
Lamesa, TX 79331
806-872-2177