Sec. 201 Affordability rebates
in the heading, by striking “2021 recovery rebates to individuals” and inserting “affordability rebates”,
in subsection (a), by striking “2021 an amount equal to the 2021 rebate amount” and inserting “2026 an amount equal to the affordability rebate amount”,
by striking subsection (b) and inserting the following:
“(b) Affordability rebate amount—For purposes of this section, the term “affordability rebate amount” means, with respect to any taxpayer for any taxable year, the sum of—
“(1) $3,000 ($6,000 in the case of a joint return), plus
“(2) $3,000 multiplied by the number of dependents of the taxpayer for such taxable year.”
in subsection (e)(2)—
in subparagraph (A), by striking “$1,400” and inserting “$3,000”, and
in subparagraph (B)—
in the matter preceding clause (i), by striking “$2,800” and inserting “$6,000”, and
in clause (i), by striking “$1,400” and inserting “$3,000”, and
in subsection (g)—
in paragraph (1), by striking “2019” and inserting “2024”,
in paragraph (2)(B), by striking “January 1, 2021” each place it appears and inserting “January 1, 2026”,
in paragraph (3), by striking “December 31, 2021” and inserting “December 31, 2026”,
in paragraph (5)—
in the heading, by striking “2020” and inserting “2025”,
in subparagraph (A)—
in the heading, by striking “2020” and inserting “2025”, and
by striking “beginning in 2020, paragraph (1) shall be applied with respect to such individual by substituting “2020” for “2019”” and inserting “beginning in 2025, paragraph (1) shall be applied with respect to such individual by substituting “2025” for “2024””, and
in subparagraph (B)—
in clause (i), by striking “2020” and inserting “2025”,
in clause (ii)—
in subclause (I), by striking “2020” and inserting “2025”, and
in subclause (II), by striking “2021” and inserting “2026”, and
in clause (iii)—
in the heading, by striking “2020” and inserting “2025”, and
by striking “2020” each place it appears and inserting “2025”, and
in the heading of paragraph (6), by striking “2019 or 2020” and inserting “2024 or 2025”.
Conforming amendment— The table of sections for subchapter B of chapter 65 of the Internal Revenue Code of 1986 is amended by striking the item relating to section 6428B and inserting the following new item: