We doubled the child tax credit, and we nearly doubled the standard deduction. But all of that was scheduled to expire at the end of this year. Without action, Americans would have seen their tax rates increase and the child tax credit shrink by 50%. A typical family would have seen its taxes go up by about $1,700 a year. My state of South Dakota, a typical family would have seen a $2,500 tax increase. (00:30–00:37)
CLAIM
Asserts that without legislative action, tax rates would increase and the child tax credit would decrease by 50%.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
