The main purpose of this legislation is to provide financial relief to individuals by offering a refundable tax credit for the year 2025. This credit is aimed at reducing the federal income tax burden on taxpayers, particularly in light of rising costs and tariffs that may have affected their financial situations. The key provision of this legislation is the introduction of a new tax credit, which allows individuals to claim a credit equal to 10 percent of their federal income tax liability for the taxable year beginning after December 31, 2024, and before January 1, 2026.