Specific provisions of the Tax Cuts and Jobs Act (H.R. 1) praised by FRC include:
- Expanding education savings accounts to include unborn children,
- Eliminating most marriage penalties,
- Increasing the child tax credit, and
- Providing an adoption tax credit.
“The House passed tax plan is a win for families who are at the heart of our economy,” FRC Pres. Tony Perkins said in a statement supporting the bill.
“Families will see their budgets bolstered and the child tax credit increase will enable moms and dads to better provide for their children. Families will be allowed to put aside money for their unborn child’s future education.”
What’s good for marriage is also good for our culture and the country as a whole, Perkins said:
“Marriage is good for individuals, men and women, their children, culture, and the economy as shown by numerous studies. Yet federal tax policy has continued to penalize marriage, even as many families require two income-earners to help with the cost of living, most especially costs associated with raising children.
“This tax plan is a major step in the right direction for the government to stop creating a financial disincentive for marriages.”