Family of Four Making $59,000 Per Year
• Steve and Melinda have two children in middle school and are living secure middle-class life – but budgets are tight. With tax reform, they’ll get some much-needed breathing room financially.
• As a result of lower tax rates, a significantly larger standard deduction, and an enhanced Child Tax Credit and new Family Credit, Steve and Melinda will pay over $1,182 less in taxes than last year, reducing their total tax bill from $1,582 to only $400. That’s more money they can use for whatever is important to them, whether it’s paying bills, purchasing a new refrigerator, or putting away savings for the future.