US businesses and wealthy universities scored major wins in the Senate Republicans’ version of President Donald Trump’s tax bill, while low-income Americans and clean energy providers are poised to be hit the hardest.

The Senate needs 51 votes to pass the bill, which has already sparked opposition from moderate and conservative Republicans.

Blue state House Republicans warn Senate GOP against removing SALT deduction increase from tax bill, with Rep. Mike Lawler declaring any such move 'dead on arrival' as negotiations continue.

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 SALT cap has been perhaps the most vexing policy consideration for the Senate’s GOP tax writers. The current $10,000 SALT cap was imposed as part of President Donald Trump’s 2017 tax cuts. Now, Republican House members in high-tax states have enough leverage to raise that threshold.

Big, Beautiful Bill timeline in jeopardy as Senate vote delays to June 22, leaving a tight window for House approval before the Treasury's early July debt ceiling deadline