To amend the Internal Revenue Code of 1986 to increase the amount of the child tax credit, to make such credit fully refundable, to remove income limitations from such credit, and for other purposes.
IntroducedFebruary 18, 2025
Introduced1 year ago
Intro
House
Senate
Pres
Introduced in Senate
Taxation
Why This Matters
This bill increases the child tax credit and changes rules so more families can benefit. It raises the credit amount, removes income limits, and makes the credit fully refundable.
Who this affects
families with dependent children
What changes is this bill making?
1Raises the child tax credit from $1,000 to $5,000 per qualifying child under the Internal Revenue Code (IRC) of 1986.
2Makes the child tax credit fully refundable so families can receive the full credit even if they owe no federal income tax.
3Removes income limits so all eligible taxpayers can claim the full credit regardless of their earnings.
4Deletes outdated sections of the tax code related to specific territories such as Puerto Rico and American Samoa.
5Applies these changes to tax years beginning after December 31, 2024.
