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This could be good news for middle-class Americans, as well as those who earn less each year.
For right now, all economists can do is speculate.
Under the Biden-Harris Administration, Biden has also madecertain tax-related changesand new proposals that could positively affect the middle-class.
Tax credits could be as much as $3,600 per child.
The ACA premium tax credits, meanwhile, exist to make healthcare more affordable and free up disposable income.
There may be income limits for this, but middle-class families are likely to qualify.
On average, these tax credits could save low- and middle-class families $800 on marketplace health insurance plans.
Higher deductions mean instant tax breaks for many middle-income households, she said.
Federal income tax brackets could also be lowered.
If the TCJA expires, Americans everywhere could face a higher tax liability.
That includes middle-class Americans.
These changes could, in theory, be a good thing, especially as pertains to economic stability.
Part of Bidens proposed tax bill is to make homeownership less of a dream and more of a reality.
For the latter to qualify, theyll need to sell their current home to another owner-occupant.
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