The bill would amend the Internal Revenue Code to treat eligible individuals as having paid $1,700 for a joint return, $1,275 for a head-of-household return, or $850 for another individual for the most recent qualifying taxable year. Eligibility would generally require U.S. citizenship, income below specified thresholds, and no incarceration, while excluding dependents and estates or trusts. The Treasury Secretary would refund or credit the overpayment as rapidly as possible, without interest, and the changes would apply to taxable years beginning after December 31, 2024.

FactVote-generated overview; it is not an official CRS summary.