The Senate has passed its version of the One Big Beautiful Bill Act - with an expanded Child Tax Credit (CTC) for American families making it into the bill. The Senate approved the bill on July 1 after a marathon vote-a-rama. The bill passed by a narrow 51-50 margin, with Vice President JD Vance casting the tie-breaking vote.

The Congressional Budget Office projects the bill would increase federal deficits over the next 10 years by nearly $3.3 trillion from 2025 to 2034.