(a) Extension and increase of expanded child tax credit.—Section 24(h) is amended—
(1) in paragraph (1), by striking “, and before January 1, 2026”,
(2) in paragraph (2), by striking “$2,000” and inserting “$2,200”, and
(3) by striking “2018 through 2025” in the heading and inserting “beginning after 2017”.
(b) Social security number required.—Section 24(h)(7) is amended to read as follows:
“(7) SOCIAL SECURITY NUMBER REQUIRED.—
“(A) IN GENERAL.—No credit shall be allowed under this section to a taxpayer with respect to any qualifying child unless the taxpayer includes on the return of tax for the taxable year—
“(i) the taxpayer’s social security number (or, in the case of a joint return, the social security number of at least 1 spouse), and
“(ii) the social security number of such qualifying child.
“(B) SOCIAL SECURITY NUMBER.—For purposes of this paragraph, the term ‘social security number’ means a social security number issued to an individual by the Social Security Administration, but only if the social security number is issued—
“(i) to a citizen of the United States or pursuant to subclause (I) (or that portion of subclause (III) that relates to subclause (I)) of section 205(c)(2)(B)(i) of the Social Security Act, and
“(ii) before the due date for such return.”.
(c) Inflation adjustments.—Section 24(i) is amended to read as follows:
“(i) Inflation adjustments.—
“(1) MAXIMUM AMOUNT OF REFUNDABLE CREDIT.—In the case of a taxable year beginning after 2024, the $1,400 amount in subsection (h)(5) shall be increased by an amount equal to—
“(A) such dollar amount, multiplied by
“(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting ‘2017’ for ‘2016’ in subparagraph (A)(ii) thereof.
“(2) SPECIAL RULE FOR ADJUSTMENT OF CREDIT AMOUNT.—In the case of a taxable year beginning after 2025, the $2,200 amount in subsection (h)(2) shall be increased by an amount equal to—
“(A) such dollar amount, multiplied by
“(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting ‘2024’ for ‘2016’ in subparagraph (A)(ii) thereof.
“(3) ROUNDING.—If any increase under this subsection is not a multiple of $100, such increase shall be rounded to the next lowest multiple of $100.”.
(d) Conforming amendment.—Section 24(h)(5) is amended to read as follows:
“(5) MAXIMUM AMOUNT OF REFUNDABLE CREDIT.—The amount determined under subsection (d)(1)(A) with respect to any qualifying child shall not exceed $1,400, and such subsection shall be applied without regard to paragraph (4) of this subsection.”.
(e) Omission of correct social security number treated as mathematical or clerical error.—Section 6213(g)(2)(I) is amended by striking “section 24(e)” and inserting “section 24”.
(f) Effective date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2024.