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.

The Senate Finance Committee on Monday released legislative details on President Trump's economic agenda.

Many Americans see Medicaid and food assistance programs as underfunded.

Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources, and make only modest changes to most other incentives, dashing hopes of those seeking relief from major cuts passed by the House.