S. 3339
Referred to CommitteeHalt Tax Increases on the Middle Class and Seniors Act
Latest Action
Read twice and referred to the Committee on Finance.
9/15/2016 • Senate
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).
Introduced in Senate • 9/15/2016
Topics & Subjects
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Bill Journey
Originated in the Senate
Introduced
September 15, 2016
Read twice and referred to the Committee on Finance.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law