One of the key findings of that research I just linked was On a static basis , the plan would lead to at least 0 . 8 percent higher aftertax income for all taxpayer quintilesThere are also a number of provisions specific for childcare Increases the standard deduction from $ 6 , 300 to $ 15 , 000 for singles and from $ 12 , 600 to $ 30 , 000 for married couples filing jointly . Eliminates the personal exemption and introduces other childcarerelated tax provisions . Makes childcare costs deductible from adjusted gross income for most Americans abovetheline , up to the average cost of care in their state . The deduction would be phased out for individuals earning more than $ 250 , 000 or couples earning more than $ 500 , 000 . Offers credits spending rebates of up to $ 1 , 200 a year for childcare expenses to lowerincome families , through the earned income tax credit . Creates new saving accounts for care for children or elderly parents , or school tuitions , and offers a 50 percent match of contributions not modeled .