The Treasury Department and the IRS unveiled a proposed regulation on August 19 that would strip broad categories of lawfully present immigrants — not merely people without legal status — of the refundable share of four widely claimed tax credits. Officials tied the move to a decades-old welfare law and put the government's own projected savings at $700 million to $2.6 billion a year, though at least one higher, unverified estimate of roughly $3 billion circulated the same day.
