Found this article and it would affect homeschooler’s as well as single income families with children.
Family Research Council: Stay-at-home parents will not receive Obama’s Child Tax Credit
Today Tony Perkins, President of the Family Research Council (FRC), just released a new Call to Action for all American families. Here is his call:
When Congress passed tax relief for families in 2001 and 2003, some Members of Congress insisted the tax cuts be staggered and temporary, resulting in a large scheduled tax hike in 2011.
If these cuts are not made permanent,next year American families will face one of the largest tax increases in history. On average, taxes would increase $1,800 per taxpayer, and 48 million married couples will face an average hike of $3,007, with many paying more than if they merely cohabited. A family of four earning $40,000 would see a tax increase of over $2,300. If the President’s tax relief is allowed to expire at the end of 2010, Americans will pay about $280 billion more in taxes each year.
Instead of addressing this problem, President Obama’s recently submitted budget includes a proposal that seeks to increase the Child and Dependent Care Tax Credit. The proposal is limited only to families making less than $115,000 a year. To be clear, this is not an expansion of the Child Tax Credit, but an attempt to use the tax code for social engineering.
