Trump Effect: Bessent Ends Tax Breaks for Illegals

Treasury Secretary Russell Bessent announced that the Treasury Department halted processing of refundable tax credits for individuals without valid Social Security numbers, affecting four tax credit programs. The action applies to Child Tax Credit, Earned Income Tax Credit, Additional Child Tax Credit, and American Opportunity Tax Credit claims. Treasury Department officials stated the measure aims to prevent tax credits from going to ineligible applicants. The change took effect immediately upon announcement.

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