U.S. Senate Republicans on Monday unveiled proposed changes to President Donald Trump's sweeping tax-cut and spending bill that would make some business-related tax breaks permanent and also limit a tax break for state and local income taxes,

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.

Cuts to Medicaid and anti-poverty programs wipe out gains low-income households could see from policies like no taxes on tips and overtime, nonpartisan estimates show.