Trump administration reports millions claim expanded tax credits this year

$2,200 Child Tax Credit prevents a scheduled drop to $1,000 that would have hit families in 2026

The "no tax on tips" deduction is capped at $25,000 and covers more than 70 qualifying occupations — at a 10-year cost of $32 billion

The overtime pay deduction costs an estimated $90 billion through 2034 — but the bottom 40% of earners are projected to save an average of $0–$5 per tax return in 2026

6 million+ children registered for Trump Accounts ahead of the July 4, 2026 launch — but only ~1.4 million qualify for the $1,000 federal seed deposit

CBO scores the One Big Beautiful Bill at $3.4 trillion added to the federal deficit through 2034 — supporters cite a different accounting baseline that shows deficit reduction