Termination of child tax credit and earned income tax credit, preservation of text and continuation of computations for reference purposes

(a) Child tax credit Section 24 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsections: (l) Termination of credit No credit shall be allowed under this section for taxable years beginning after December 31, 2025. (m) Computation of reference credit (1) In general For reference purposes only, for each taxable year beginning after December 31, 2025, the Secretary shall compute dollar amounts and tables for the credit that would be determined under this section as if subsection (l) had not been enacted. (2) Publication Not later than December 15 of each calendar year, the Secretary shall publish the dollar amounts and tables described in paragraph (1) for the succeeding taxable year. (3) References For purposes of any Federal, State, or local law that refers to the credit allowed under section 24, the amount determined pursuant to paragraph (1) shall be treated as the credit so allowed.. (b) Earned income tax credit Section 32 of such Code is amended by adding at the end the following new subsections: (o) Termination of credit No credit shall be allowed under this section for taxable years beginning after December 31, 2025. (p) Computation of reference credit Rules similar to the rules of section 24(m) shall apply.. (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2025.