The Senate Finance Committee released its revisions to President Donald Trump’s “one big, beautiful” bill Monday night, implementing changes to

For many families, another key source of savings is the child tax credit. Senate Republicans proposed permanently increasing the credit available to parents, which would be set at $2,200 per child, beginning in the 2025 tax year. House Republicans had proposed to bump up the credit to $2,500, but only through 2028.

U.S. lawmakers appear primed for a tax-bill showdown with the Senate’s proposed version of the “big, beautiful” act challenging the House version of the bill on several key tax measures.