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.

A U.S. Senate panel proposed making the tax credit for capturing carbon emissions for recovering oil equal to the $85/metric ton tax credit for permanently burying those emissions underground, a boon for oil and gas producers.

The Senate version of Donald Trump's One Big Beautiful Bill softens some of the EV and clean energy incentive cuts, but the $7,500 EV tax credit is doomed