President Donald Trump’s proposed $5,000 Child Tax Credit aims to provide financial relief to families, increasing the current credit from $2,000. If passed, it could significantly reduce childcare and education costs, benefiting both low- and high-income households. Unlike previous tax credits, this proposal removes income restrictions, making it more accessible. The plan still needs congressional approval and could take effect in the 2025 tax year. With rising living expenses, this tax relief could be a game changer for many families, reshaping financial stability across the U.S. Stay informed on how this proposal might impact your household.