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.

Bill: 119-hr-1425
Sponsor: full_name: Rep. Mackenzie, Ryan [R-PA-7]
Introduced: 2025-02-18
Policy area: Taxation
Latest action: action_date: 2025-02-18
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 1425 IN THE HOUSE OF REPRESENTATIVES February 18, 2025 Mr. Mackenzie introduced the following bill; which was referred to the Committee on Ways and Means A BILL 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.

1. Child tax credit improvements (a) Increase in credit amount Section 24(a) of the Internal Revenue Code of 1986 is amended by striking $1,000 and inserting $5,000 . (b) Removal of income limitations Section 24 of such Code is amended by striking subsection (b). (c) Removal of deadwood (1) Section 24 of such Code is amended by striking subsections (i) and (j). (2) Section 24(k)(2) of such Code is amended— (A) by striking subparagraph (A), and (B) by striking (B) Application to taxable years after 2021. . (3) Section 24(k)(3)(A) of such Code is amended by striking and without regard to the application of this section to bona fide residents of Puerto Rico under subsection (i)(1) . (4) Section 24(k)(3)(C)(ii) of such Code is amended to read as follows: (ii) Application of section in event of absence of approved plan In the case of a taxable year with respect to which a plan is not approved under subparagraph (B), rules similar to the rules of paragraph (2) shall apply with respect to bona fide residents of American Samoa (within the meaning of section 937(a)). . (5) Chapter 77 of such Code is amended by striking section 7527A (and by striking the item relating to such section in the table of sections for such chapter). (d) Conforming amendments Section 24(h) of such Code is amended by striking paragraphs (2) and (3). (e) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2024.