House passes Trump's 'big beautiful' tax bill
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The House Republican multi-trillion-dollar tax package includes a bigger child tax credit. If enacted, here’s who could benefit from the changes.
The poorest kids in the country miss out on the full benefits of the expanded child tax credit in the "big beautiful bill." Why it matters: The bill now making its way to the Senate provides more tax breaks to higher earners than those at the bottom.
The child tax credit could get boosted to $2,500 under a Republican proposal. But millions of children would be excluded.
The bill would boost the tax break to as much as $2,500 but end it for children of undocumented immigrants and married parents who file separate returns.
Some families in the Golden state may see an increase in their federal child tax credit, but thousands could lose it.
According to the representatives, this legislation would bring Ohio’s middle and low-income families a reimbursement during taxable years.
New York is expanding its child tax credit. The state passed the expansion as part of the budget process, which just wrapped up earlier in May. To get the credit, you need to have been a full-year resident of New York state or married to a full-year resident. Kids under 17 years old qualify.
As Congress continues debating the final structure of its budget, a proven anti-poverty tool hangs in the balance.