Glamour, February 24, 2017: Ivanka Trump’s Child Care Plan Would Be Huge—But It Doesn’t Help Those Who Need It Most
“According to Bloomberg, Ivanka Trump met with members of the House and the Senate last week to urge them to include deductions for child care in their tax reform. The plan, for the most part, departs little from a policy introduced by Trump last fall. Individuals earning less than $250,000 annually—or couples taking home less than $500,000 each year—would be able to deduct childcare expenses from their income taxes. But according to a 2015 report from the Tax Policy Center, 45 percent of American families don’t earn enough each year to pay income taxes. Under Trump’s proposal, low-income families who don’t qualify for the deduction would earn a higher earned income tax credit—a benefit that allows low-earning families to qualify for a tax refund. Whether or not the plan will truly benefit theses families is still murky.”