Under the One Big Beautiful Bill Act, the child tax credit maximum has been increased from $2,000 to $2,200, meaning some families may receive a bigger refund this tax season. However, the $2,500 earnings minimum and $1,700 refund cap means many low-income families won’t receive the full credit. “It’s not based on any expenses you incur,” Margot Crandall-Hollick, a tax policy expert at the Urban Institute, told CNBC. “It’s based on your earnings… and if you have a kid that qualifies.”

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