They will be able to take a larger standard deduction and seniors will be able to take a new bonus deduction on top of that. The child tax credit is now worth $2,200 per child and it's linked to inflation. so it will never lose its value. Workers who earn tips and overtime won't have to pay federal taxes on that income either. And all of that adds up to bigger refunds come April. (01:27–01:34)
CLAIM
Asserts the child tax credit amount and its link to inflation.
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