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139 STAT. 161 PUBLIC LAW 119–21—JULY 4, 2025 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 sub- section 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. SEC. 70105. EXTENSION AND ENHANCEMENT OF DEDUCTION FOR QUALIFIED BUSINESS INCOME. (a) INCREASE IN TAXABLE INCOME LIMITATION PHASE-IN AMOUNTS.— (1) IN GENERAL.—Subparagraph (B) of section 199A(b)(3) is amended by striking ‘‘$50,000 ($100,000 in the case of a joint return)’’ each place it appears and inserting ‘‘$75,000 ($150,000 in the case of a joint return)’’. (2) CONFORMING AMENDMENT.—Paragraph (3) of section 199A(d) is amended by striking ‘‘$50,000 ($100,000 in the case of a joint return)’’ each place it appears and inserting ‘‘$75,000 ($150,000 in the case of a joint return)’’. (b) MINIMUM DEDUCTION FOR ACTIVE QUALIFIED BUSINESS INCOME.— (1) IN GENERAL.—Subsection (i) of section 199A is amended to read as follows: ‘‘(i) MINIMUM DEDUCTION FOR ACTIVE QUALIFIED BUSINESS INCOME.— ‘‘(1) IN GENERAL.—In the case of an applicable taxpayer for any taxable year, the deduction allowed under subsection (a) for the taxable year shall be equal to the greater of— ‘‘(A) the amount of such deduction determined without regard to this subsection, or ‘‘(B) $400. ‘‘(2) APPLICABLE TAXPAYER.—For purposes of this sub- section— ‘‘(A) IN GENERAL.—The term ‘applicable taxpayer’ means, with respect to any taxable year, a taxpayer whose aggregate qualified business income with respect to all Definitions. 26 USC 24 note. Applicability.