“Expanding the earned income tax credit for families who pay no income tax.
Where are you getting this? I scanned the article again and didn’t see this? “
I was listening to Trump make his proposal.
He said everyone could deduct childcare expenses. If someone didn’t pay income taxes they could get the amount of the deduction as an expanded earned income tax credit.
Then on their tax forms there will be a box that a person who pays no taxes can check to have $ 1,000 of their earned income tax credit applied to this new dependent care account and if the person checks that box the government will match its own contribution 50 cents on the dollar.
Oh, I see what you mean now.
And if they check the box it will cost the government less to match their contribution to the account than to pay for the child care and it will cost less if that mother works than stay home on government programs.