US SB3339 | 2015-2016 | 114th Congress

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on September 15 2016 - 25% progression, died in committee
Action: 2016-09-15 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Halt Tax Increases on the Middle Class and Seniors Act This bill amends the Internal Revenue Code to roll back the increased threshold for determining the amount of the tax deduction for medical expenses. Currently, individual taxpayers under age 65 may only deduct those medical expenses that exceed 10% of their adjusted gross income. This bill reduces that percentage to 7.5% for all taxpayers for tax years beginning after December 31, 2015. The threshold percentage remains at 10% for purposes of computing the alternative minimum tax (AMT).

Tracking Information

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Title

Halt Tax Increases on the Middle Class and Seniors Act

Sponsors


History

DateChamberAction
2016-09-15SenateRead twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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