Just did my taxes...there is going to be a lot of pissed people

[progree]

45. A $4050 exemption is equivalent to a $891 credit in the 22% tax bracket

Example for one child:

E.g. our taxable income is higher by $4,050 because we lost the dependent exemption. At the 22% tax bracket, that costs us: $4,050 * 22% = $891.

But we gain an extra $1,000 (in the best case) child tax credit.

So we're $1000 - 891 = $109 less taxes. (best case)

In the next tax bracket (24%) it comes to a $28 tax savings. In tax brackets above that (32%, 35%, 37%), TCJA is a tax loss

(All of the above is considering just these two factors alone -- dependent exemption and child tax credit).

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If we're in the 12% tax bracket:

Our taxable income is higher by $4,050 because we lost the dependent exemption. At the 12% tax bracket, that costs us: $4,050 * 12% = $486.

But we gain an extra $1,000 (in the best case) child tax credit.

So we're $1000 - 486 = $514 less taxes. (best case)

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I don't have children and I haven't studied the conditions/income factors that affect the child tax credit.