U.S.A. 2011 Key Budget Highlights

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• Extend for another year the broadest tax cut in American history – the Making Work Pay Tax Credit – for 110 million American families, including 8.4 million families in Texas.
• Increase the child care tax break by providing a 35 percent credit for middle-class families earning up to $85,000 a year and at least some additional credit to families earning up to $113,000. Families could claim up to $3,000 in expenses for one child or $6,000 for two children. Many middle-class families with two children will see value of the credit nearly double, from $1,200 to $2,100.
•  Expand child care funding for working parents by adding $1.6 billion to the Child Care Development Fund, the largest one-year increase in 20 years, to serve an additional 235,000 children. For Texas, the Budget includes $603.1 million in child care assistance.
• Deploy future TARPfunds to assist homeowners threatened with foreclosure and small businesses needing access to affordable credit.

Source US Govt.- Dept. Treasury