the following new subsection: (f) Portion of credit refundable The aggregate credits allowed to a taxpayer under subpart C shall be increased by the lesser of— (1) the credit which would be allowed under this section without regard to this subsection and the limitation under section 26(a), or (2) (A) in the case of a taxpayer with 1 qualifying child, $1,050, or (B) in the case of a taxpayer with more than 1 qualifying child, $2,100. The amount of the credit allowed under this subsection shall not be treated as a credit allowed under this subpart and shall reduce the amount of credit otherwise allowable under subsection (a) without regard to section 26(a). . (b) Clerical amendment Section 1324(b)(2) of title 31, United States Code, is amended by inserting 24, before 25A, . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016.