U.S. Senate Republicans have unveiled their version of President Donald Trump's sweeping tax-cut and spending bill that is broadly similar to the legislation that narrowly passed the House of Representatives last month.

Under current law, the maximum child tax credit is $2,000, which will revert to $1,000 after 2025 without action from Congress. Both House and Senate proposals would increase the top credit, but phase-ins would mirror the current tax break.

The Senate GOP’s version of the “big, beautiful bill” is facing major headwinds in the House as a growing number of lawmakers stake opposition to the legislation, a troubling sign for Republican leaders as they try to fast-track the package full of President Trump’s legislative priorities.

The 68-30 vote on the GENIUS Act was the first time that the Senate has passed major legislation to regulate digital assets.

The crypto industry has long pushed for lawmakers to pass legislation creating rules for digital assets, arguing that a clear framework could enable stablecoins to become more wid

The Senate passed a landmark piece of legislation to regulate crypto after a bumpy path through the upper chamber. The bill, known as the GENIUS Act, would establish a regulatory framework for the $250 billion market for stablecoins,

WASHINGTON (AP) — Senate Republicans on Monday proposed deeper Medicaid cuts, including new work requirements for parents of teens, as a way to offset the costs of making President Donald Trump’s tax breaks more permanent in draft legislation unveiled for his “big, beautiful bill.”

WASHINGTON—Senate Republicans’ plan to extract more savings from Medicaid as part of their revised tax and spending package triggered a backlash within the party, raising concerns that leaders could miss their self-imposed deadline of getting the bill to President Trump’s desk by July 4.