(NEXSTAR) – In the nearly 900 pages of President Trump's sweeping budget bill are multiple provisions that parents and guardians may want to give their attention.

Child tax credit

Under Trump's "Big, Beautiful Bill" the child tax credit is raised from $2,000 to $2,200.

Parents and guardians can claim the tax credit for each qualifying child who will be under the age of 17 at the end of the year. Both the taxpayer and the child must have a Social Security number.

The increased tax credit goes into effect in 2025, and will be adjusted for inflation starting 2026.

Millions of the nation's lowest earners don't make enough to claim the full credit, however, which is partially refundable.

$1,000 for newborns

The bill creates a new children's savings program, called Trump Accounts, with a potential $1,000........

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