The "one big, beautiful bill" includes a new tax break for coastal elites. It's a deduction for up to $40,000 of state and local taxes.

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.

Republicans in Washington, D.C., are working on preventing a child tax credit of $2,000 from dropping back to the $1,000 level, as a key House committee has released its plan for the popular tax break.

Americans are starting to get a look at the Republicans’ plans to extend the tax cuts from President Donald Trump’s first term in office along with additional tax breaks. A proposed bill was ...

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.