And deleted the personal exemption. For a family of three then there is no net increase in exemptions. For a family of four our more the taxable income goes up.
Senate Bill
The Senate bill would also eliminate personal exemptions. As was the case with HR 1, the Senate bill will attempt to ease the pain on families by increasing the Child Tax Credit to $1,650, a $50 increase over the House proposal but a $650 rise when compared to current law. The Senate proposal provides protection for the upper reaches of the middle class that is missing from the House bill, however, by increasing the income levels at which phase-out of the credit begins to $500,000 (if single, $1,000,000 if married). This will enable many more taxpayers to make up for lost personal exemptions with the enhanced CTC as compared to HR 1.