President Donald Trump says he's seen the latest version of the $1.5 trillion tax overhaul package moving through Congress and he predicts it will do "very, very well."

The president told reporters Friday Republicans should be in position to pass the package as early as next week and says it will be "monumental."

Trump also addressed prospects for increasing the child tax credit, one of the final sticking points in negotiating the package.

He said that where Democrats have "done nothing" for children, the plan will include "a tremendous child tax credit and it is increasing on a daily basis."

The size of the child tax credit was one of the final points being ironed out as GOP leaders drive to push through their big tax package.

The GOP leaders are trying to muscle the bill through Congress next week, handing Trump his first major legislative victory by Christmas.

Republican Marco Rubio's potential defection over a tax credit for low-income parents has put a speed bump into GOP leaders' drive to push their big tax package through the Senate, but it's a complication that's likely to be resolved.

The Florida senator says he'll vote against the $1.5 trillion bill unless House and Senate negotiators expand the tax credit that low-income Americans can claim for their children.

That puts the Republicans' razor-thin margin in the Senate closer to the edge. The GOP leaders are straining to muscle the bill through Congress next week, handing President Donald Trump his first major legislative victory by Christmas.

The Senate turmoil erupted the same day that a key faction of House Republicans came out in favor of the bill, boosting its chances.