Bill > HR782

This bill, known as the Reignite Hope Act of 2025, introduces two primary tax provisions: a new tax credit for critical employees and permanent modifications to the child tax credit. The critical employee tax credit provides a $3,500 credit for specific professional workers (such as healthcare professionals, law enforcement officers, firefighters, child care providers, and home care aides) who work full-time in qualified opportunity zones for at least 75% of the taxable year. This credit is temporary and will expire three years after the bill's enactment. The bill also makes significant changes to the child tax credit, increasing the credit amount to $3,500 per qualifying child (with $4,500 for children under 6), and introduces a $500 credit for non-child dependents. The child tax credit will now have income-based limitations, reducing by $50 for every $1,000 of modified adjusted gross income over $400,000 for joint filers (or $200,000 for other filers). Additionally, the bill modifies the refundable portion of the credit and implements stricter requirements for claiming the credit, such as requiring social security numbers to be issued to U.S. citizens by the tax return due date. These changes will apply to taxable years beginning after December 31, 2024.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/782/all-info