Taxing Questions for All the Family

Brief

Taxing Questions for All the Family

July 19, 2001

Abstract

[Financial Times] In the US, the 2001 tax act increased the child credit from $500 to $1,000 following legislation in 1997 that created the child credit in the first place. Meanwhile, an earned income tax credit (EITC) mainly for households with children and low earnings will soon reach as high as $5,200 through laws passed in 1986, 1990, 1993 and 2001. The dependent exemption was roughly doubled in 1986.

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