Couples earning up to $1 million and more would be eligible for child tax credits of $1,650 per child in the Senate tax bill released Thursday evening. For individuals, the cut-off would be $500,000.

The bill, the Tax Cuts and Jobs Act, would set far more generous parameters for the benefit than exist today. Under current law, eligibility for the credit begins to phase out at $110,000 for couples and $75,000 for individuals.

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