H.R. 1425 — 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.

This section increases the child tax credit under section 24 of the Internal Revenue Code of 1986 to $5,000 per qualifying child (from $1,000), removes the income limitations in section 24(b), and strikes obsolete provisions in section 24(i), 24(j), and 24(k), as well as section 7527A of the Code. It also revises the special rules for residents of Puerto Rico and American Samoa by eliminating the Puerto Rico-specific reference in section 24(k)(3)(A) and replacing the American Samoa rule in section 24(k)(3)(C)(ii) with a cross-reference to rules similar to those that apply when an approved plan is absent. The section further strikes conforming paragraphs in section 24(h)(2) and (3). The amendments apply to taxable years beginning after December 31, 2024.