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US HR1051

Halt Tax Increases on the Middle Class and Seniors Act


summary

Introduced
02/14/2017
In Committee
02/14/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Halt Tax Increases on the Middle Class and Seniors Act This bill amends the Internal Revenue Code to roll back the increased income threshold for determining the amount of the tax deduction for medical expenses. Currently, individual taxpayers may only deduct those medical expenses that exceed 10% of their adjusted gross income. This bill reduces that percentage to 7.5%.

AI Summary

This bill amends the Internal Revenue Code to roll back the increased income threshold for determining the amount of the tax deduction for medical expenses. Currently, individual taxpayers may only deduct medical expenses that exceed 10% of their adjusted gross income. This bill reduces that percentage to 7.5%, effectively lowering the threshold and allowing more taxpayers, particularly middle-class individuals and seniors, to claim a larger medical expense deduction on their tax returns.

Committee Categories

Budget and Finance

Sponsors (11)

Last Action

Referred to the House Committee on Ways and Means. (on 02/14/2017)

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