Key Elements: Taxation and the Family

This section explores the effects of the tax system on families, with particular emphasis on families with children.

• What is the personal exemption?
• Has the personal exemption kept up with prices and income?
• What is the Child Tax Credit (CTC)?
• What is the Earned Income Tax Credit (EITC)?
• How does the tax system subsidize child care expenses?
• What incentives exist to help families save for college
• What incentives exist to help families pay for college?
• What are marriage penalties and bonuses?