A new child tax credit is coming next year, bringing significant changes that will alter how much assistance families receive — and which families can receive it. With his tax and spending package, President Donald Trump passed a permanent change to the child tax credit spearheaded by congressional Republicans.

Currently, taxpayers who make under $200,000 annually as a single filer, or $400,000 if filing jointly, can qualify for a partially refundable credit of up to $2,000 for each child they claim as a dependent who is under age 17 and a US citizen or qualifying noncitizen.

The child tax credit has been offered to U.S. taxpayers for nearly 30 years, but its value has varied across presidential administrations. With the passage of the One Big Beautiful Bill

Changes to the Child Tax Credit are embedded in the Republican One Big Beautiful Bill Act, which is set to become law on July 4.

There’s still time to claim the enhanced child tax credit as well as other federal tax breaks, which could be worth hundreds – if not thousands – of dollars. But you have to submit your 2021 ...

As Tax Foundation explains it, the credit "allows low- and moderate-income families to reduce their tax liability dollar-for-dollar by up to $2,000 for each qualifying child."

The extra child tax credit money is not just for children 17 and younger. Older dependents and college students can qualify too, but there's a catch.

Key provisions in the president’s signature legislation will take effect at different times over several years.