As Congress deliberates over The One, Big, Beautiful Bill, you may wonder how the Child Tax Credit (CTC) could change. Under current law, the $2,000 per child CTC is set to drop to $1,000 after 2025. The income phaseout thresholds will also be lower, which means fewer American families will qualify. And the requirement to provide the child’s Social Security number (SSN) will be eliminated. If enacted, the new bill will raise the CTC to $2,500 per child for tax years 2025 through 2028 and retain the higher phaseout thresholds. It would also preserve the requirement to provide a child’s SSN and expand it to require an SSN for a taxpayer claiming the credit.
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