Bill > HR6514

This bill amends the Internal Revenue Code of 1986 to allow an "above-the-line" deduction for health insurance premiums. This means that taxpayers can deduct the amount they paid for health insurance from their total income before calculating their taxes, even if they do not itemize other deductions. The bill creates a new section (224) in the tax code to allow this deduction, and the change would apply to taxable years beginning after December 31, 2021.