| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 1425 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to increase the amount of |
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| 6 | 6 | | the child tax credit, to make such credit fully refundable, to remove |
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| 7 | 7 | | income limitations from such credit, and for other purposes. |
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| 8 | 8 | | IN THE HOUSE OF REPRESENTATIVES |
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| 9 | 9 | | FEBRUARY18, 2025 |
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| 10 | 10 | | Mr. M |
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| 11 | 11 | | ACKENZIEintroduced the following bill; which was referred to the |
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| 12 | 12 | | Committee on Ways and Means |
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| 13 | 13 | | A BILL |
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| 14 | 14 | | To amend the Internal Revenue Code of 1986 to increase |
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| 15 | 15 | | the amount of the child tax credit, to make such credit |
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| 16 | 16 | | fully refundable, to remove income limitations from such |
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| 17 | 17 | | credit, and for other purposes. |
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| 18 | 18 | | Be it enacted by the Senate and House of Representa-1 |
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| 19 | 19 | | tives of the United States of America in Congress assembled, 2 |
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| 20 | 20 | | SECTION 1. CHILD TAX CREDIT IMPROVEMENTS. 3 |
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| 21 | 21 | | (a) I |
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| 22 | 22 | | NCREASE INCREDITAMOUNT.—Section 24(a) of 4 |
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| 23 | 23 | | the Internal Revenue Code of 1986 is amended by striking 5 |
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| 24 | 24 | | ‘‘$1,000’’ and inserting ‘‘$5,000’’. 6 |
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| 25 | 25 | | (b) R |
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| 26 | 26 | | EMOVAL OFINCOMELIMITATIONS.—Section 24 7 |
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| 27 | 27 | | of such Code is amended by striking subsection (b). 8 |
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| 28 | 28 | | VerDate Sep 11 2014 01:40 Mar 12, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1425.IH H1425 |
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| 29 | 29 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
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| 30 | 30 | | •HR 1425 IH |
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| 31 | 31 | | (c) REMOVAL OFDEADWOOD.— 1 |
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| 32 | 32 | | (1) Section 24 of such Code is amended by 2 |
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| 33 | 33 | | striking subsections (i) and (j). 3 |
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| 34 | 34 | | (2) Section 24(k)(2) of such Code is amended— 4 |
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| 35 | 35 | | (A) by striking subparagraph (A), and 5 |
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| 36 | 36 | | (B) by striking ‘‘(B) A |
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| 37 | 37 | | PPLICATION TO 6 |
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| 38 | 38 | | TAXABLE YEARS AFTER 2021 .’’. 7 |
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| 39 | 39 | | (3) Section 24(k)(3)(A) of such Code is amend-8 |
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| 40 | 40 | | ed by striking ‘‘and without regard to the applica-9 |
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| 41 | 41 | | tion of this section to bona fide residents of Puerto 10 |
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| 42 | 42 | | Rico under subsection (i)(1)’’. 11 |
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| 43 | 43 | | (4) Section 24(k)(3)(C)(ii) of such Code is 12 |
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| 44 | 44 | | amended to read as follows: 13 |
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| 45 | 45 | | ‘‘(ii) A |
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| 46 | 46 | | PPLICATION OF SECTION IN 14 |
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| 47 | 47 | | EVENT OF ABSENCE OF APPROVED 15 |
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| 48 | 48 | | PLAN.—In the case of a taxable year with 16 |
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| 49 | 49 | | respect to which a plan is not approved 17 |
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| 50 | 50 | | under subparagraph (B), rules similar to 18 |
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| 51 | 51 | | the rules of paragraph (2) shall apply with 19 |
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| 52 | 52 | | respect to bona fide residents of American 20 |
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| 53 | 53 | | Samoa (within the meaning of section 21 |
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| 54 | 54 | | 937(a)).’’. 22 |
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| 55 | 55 | | (5) Chapter 77 of such Code is amended by 23 |
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| 56 | 56 | | striking section 7527A (and by striking the item re-24 |
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| 57 | 57 | | VerDate Sep 11 2014 01:40 Mar 12, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1425.IH H1425 |
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| 58 | 58 | | ssavage on LAPJG3WLY3PROD with BILLS 3 |
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| 59 | 59 | | •HR 1425 IH |
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| 60 | 60 | | lating to such section in the table of sections for 1 |
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| 61 | 61 | | such chapter). 2 |
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| 62 | 62 | | (d) C |
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| 63 | 63 | | ONFORMINGAMENDMENTS.—Section 24(h) of 3 |
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| 64 | 64 | | such Code is amended by striking paragraphs (2) and (3). 4 |
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| 65 | 65 | | (e) E |
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| 66 | 66 | | FFECTIVEDATE.—The amendments made by 5 |
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| 67 | 67 | | this section shall apply to taxable years beginning after 6 |
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| 68 | 68 | | December 31, 2024. 7 |
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| 69 | 69 | | Æ |
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| 70 | 70 | | VerDate Sep 11 2014 01:40 Mar 12, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H1425.IH H1425 |
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| 71 | 71 | | ssavage on LAPJG3WLY3PROD with BILLS |
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