Senate Republicans are taking Medicaid cuts even further than their House counterparts with legislation that targets hospital payments.

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.

Under current law, the maximum child tax credit is $2,000, which will revert to $1,000 after 2025 without action from Congress. Both House and Senate proposals would increase the top credit, but phase-ins would mirror the current tax break.