of such Code is amended by striking determined under subparagraph (A) shall be increased by $5,000 and inserting twice the amount determined under subparagraph (A) . (3) Inflation adjustment Section 32(j) of such Code is amended to read as follows: (j) Inflation adjustments (1) Earned income and phaseout amounts (A) In general In the case of any taxable year beginning after 2024, each of the dollar amounts in subsection (b)(2)(A) shall be increased by an amount equal to— (i) such dollar mount, multiplied by (ii) the GDP adjustment determined under subparagraph (B) for the calendar year in which the taxable year begins. (B) GDP adjustment For purposes of this paragraph, the term GDP adjustment for any calendar year is the percentage (if any) by which— (i) the per capita nominal gross domestic product for the preceding calendar year (as determined by the Secretary), exceeds (ii) the per capita nominal gross domestic product for calendar year 2023 (as determined by the Secretary). (C) Rounding If any dollar amount in subsection (b)(2)(A), after any increase under subparagraph (A), is not a multiple of $10, such dollar amount shall be rounded to the nearest multiple of $10. (2) Excessive investment income (A) In general In the case of any taxable year beginning after 2021, the dollar amount in subsection (i)(1) shall be increased by an amount equal to— (i) such dollar amount, multiplied by (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2020 for calendar year 2016 in subparagraph (A)(ii) thereof. (B) Rounding If the dollar amount in subsection (i)(1), after any increase under subparagraph (A), is not a multiple of $50, such dollar amount shall be rounded to the next lowest multiple of $50. . (e) Age limitations Section 32(c)(1)(A)(ii)(II) of such Code is amended by striking has attained age 25 but not attained age 65 and inserting has attained age 18 . (f) Notification of taxpayers by Treasury of