Yup - you and other families that are losing the Personal Exemption.
"Doubling" the Standard Deduction is not "double" because of that.
The GOPe destroyed or capped almost every measly tax deduction we had (mortgage interest, SALT taxes, medical expenses, student loans, employment tuition benefits, etc.) all so the GOPe donors and corporations could make out like bandits. And someone had to "pay for" their huge tax cut in a revenue neutral budget - you and me. They soaked the middle class.
Those deductions (some like SALT have been in the Tax Code since 1913 to prevent double taxation) are not gone - FOREVER! We will never get them back. Taxes, however, can and will go up at the will of our Federal Masters.
Thanks a ton. MAGA is dead to me.
personally we'll probably benefit for a while...and then we'll be run out of our house..