Posted By M. Law Monday, December 04 2017 at 1:07 PM Increasing the standard deduction and eliminated exemptions is a tax increase for just about anyone with more than a few dependents. The new dependent credit does little to make up the gap either. Posted By Colin17 Monday, December 04 2017 at 10:05 AM @ RJA If your itemized deductions were around $7,050, then yes, it appears that your taxable income would be a wash. However, the lower brackets would end up lowering your tax probably significantly. Posted By RJA Monday, December 04 2017 at 9:01 AM Increasing the standard deduction while eliminating exemptions basically does nothing.