† HR 3762 EAS 
(b) EFFECTIVE DATE.—The amendment made by sub-
section (a) shall apply to taxable years beginning after De-
cember 31, 2017. 
SEC. 210. REPEAL OF TAX ON OVER-THE-COUNTER MEDICA-
TIONS. 
(a) HSAS.—Subparagraph (A) of section 223(d)(2) of 
the Internal Revenue Code of 1986 is amended by striking 
‘‘Such term’’ and all that follows through the period. 
(b) ARCHER MSAS.—Subparagraph (A) of section 
220(d)(2) of the Internal Revenue Code of 1986 is amended 
by striking ‘‘Such term’’ and all that follows through the 
period. 
(c) HEALTH FLEXIBLE SPENDING ARRANGEMENTS 
AND HEALTH REIMBURSEMENT ARRANGEMENTS.—Section 
106 of the Internal Revenue Code of 1986 is amended by 
striking subsection (f). 
(d) EFFECTIVE DATES.— 
(1) DISTRIBUTIONS FROM SAVINGS ACCOUNTS.— 
The amendments made by subsections (a) and (b) 
shall apply to amounts paid with respect to taxable 
years beginning after December 31, 2015. 
(2) REIMBURSEMENTS.—The amendment made 
by subsection (c) shall apply to expenses incurred 
with respect to taxable years beginning after Decem-
ber 31, 2015.
† HR 3762 EAS 
SEC. 211. REPEAL OF TAX ON HEALTH SAVINGS ACCOUNTS. 
(a) HSAS.—Section 223(f)(4)(A) of the Internal Rev-
enue Code of 1986 is amended by striking ‘‘20 percent’’ and 
inserting ‘‘10 percent’’. 
(b) ARCHER MSAS.—Section 220(f)(4)(A) of the Inter-
nal Revenue Code of 1986 is amended by striking ‘‘20 per-
cent’’ and inserting ‘‘15 percent’’. 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply to distributions made after December 31, 
2015. 
SEC. 212. REPEAL OF LIMITATIONS ON CONTRIBUTIONS TO 
FLEXIBLE SPENDING ACCOUNTS. 
(a) IN GENERAL.—Section 125 of the Internal Revenue 
Code of 1986 is amended by striking subsection (i). 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2015. 
SEC. 213. REPEAL OF TAX ON PRESCRIPTION MEDICATIONS. 
Subsection (j) of section 9008 of the Patient Protection 
and Affordable Care Act is amended to read as follows: 
‘‘(j) REPEAL.—This section shall apply to calendar 
years beginning after December 31, 2010, and ending before 
January 1, 2016.’’. 
SEC. 214. REPEAL OF MEDICAL DEVICE EXCISE TAX. 
(a) IN GENERAL.—Chapter 32 of the Internal Revenue 
Code of 1986 is amended by striking subchapter E.
† HR 3762 EAS 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to sales in calendar quarters beginning 
after December 31, 2015. 
SEC. 215. REPEAL OF HEALTH INSURANCE TAX. 
Subsection (j) of section 9010 of the Patient Protection 
and Affordable Care Act is amended to read as follows: 
‘‘(j) REPEAL.—This section shall apply to calendar 
years beginning after December 31, 2013, and ending before 
January 1, 2016.’’. 
SEC. 216. REPEAL OF ELIMINATION OF DEDUCTION FOR EX-
PENSES ALLOCABLE TO MEDICARE PART D 
SUBSIDY. 
(a) IN GENERAL.—Section 139A of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following new sentence: ‘‘This section shall not be taken into 
account for purposes of determining whether any deduction 
is allowable with respect to any cost taken into account in 
determining such payment.’’. 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2015. 
SEC. 217. REPEAL OF CHRONIC CARE TAX. 
(a) IN GENERAL.—Subsection (a) of section 213 of the 
Internal Revenue Code of 1986 is amended by striking ‘‘10 
percent’’ and inserting ‘‘7.5 percent’’.
† HR 3762 EAS 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2015. 
SEC. 218. REPEAL OF MEDICARE TAX INCREASE. 
(a) IN GENERAL.—Subsection (b) of section 3101 of 
the Internal Revenue Code of 1986 is amended to read as 
follows: 
‘‘(b) HOSPITAL INSURANCE.—In addition to the tax 
imposed by the preceding subsection, there is hereby im-
posed on the income of every individual a tax equal to 1.45 
percent of the wages (as defined in section 3121(a)) received 
by such individual with respect to employment (as defined 
in section 3121(b).’’. 
(b) SECA.—Subsection (b) of section 1401 of the Inter-
nal Revenue Code of 1986 is amended to read as follows: 
‘‘(b) HOSPITAL INSURANCE.—In addition to the tax 
imposed by the preceding subsection, there shall be imposed 
for each taxable year, on the self-employment income of 
every individual, a tax equal to 2.9 percent of the amount 
of the self-employment income for such taxable year.’’. 
(c) EFFECTIVE DATE.—The amendments made by this 
section shall apply with respect to remuneration received 
after, and taxable years beginning after, December 31, 2015.
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SEC. 219. REPEAL OF TANNING TAX. 
(a) IN GENERAL.—The Internal Revenue Code of 1986 
is amended by striking chapter 49. 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to services performed on or after Decem-
ber 31, 2015. 
SEC. 220. REPEAL OF NET INVESTMENT TAX. 
(a) IN GENERAL.—Subtitle A of the Internal Revenue 
Code of 1986 is amended by striking chapter 2A. 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to taxable years beginning after Decem-
ber 31, 2015. 
SEC. 221. REMUNERATION. 
Paragraph (6) of section 162(m) of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following new subparagraph: 
‘‘(I) TERMINATION.—This paragraph shall 
not apply to taxable years beginning after De-
cember 31, 2015.’’. 
SEC. 222. ECONOMIC SUBSTANCE DOCTRINE. 
(a) IN GENERAL.—Subsection (o) of section 7701 of 
the Internal Revenue Code of 1986 is repealed. 
(b) PENALTY FOR UNDERPAYMENTS.—Paragraph (6) 
of section 6662(b) of the Internal Revenue Code of 1986 is 
repealed.
† HR 3762 EAS 
(c) INCREASED PENALTY FOR NONDISCLOSED TRANS-
ACTIONS.—Subsection (i) of section 6662 of the Internal 
Revenue Code of 1986 is repealed. 
(d) REASONABLE CAUSE EXCEPTION FOR UNDERPAY-
MENTS.—Paragraph (2) of section 6664(c) of the Internal 
Revenue Code of 1986 is repealed. 
(e) REASONABLE CAUSE EXCEPTION
FOR NONDIS-
CLOSED TRANSACTIONS.—Paragraph (2) of section 6664(d) 
of the Internal Revenue Code of 1986 is repealed. 
(f) ERRONEOUS CLAIM FOR REFUND OR CREDIT.— 
Subsection (c) of section 6676 of the Internal Revenue Code 
of 1986 is repealed. 
(g) EFFECTIVE DATE.—The repeals made by this sec-
tion shall apply to transactions entered into, and to under-
payments, understatements, or refunds and credits attrib-
utable to transactions entered into, after December 31, 2015. 
SEC. 223. BUDGETARY SAVINGS FOR EXTENDING MEDICARE 
SOLVENCY. 
As a result of policies contained in this Act, the Sec-
retary of the Treasury shall transfer to the Federal Hospital 
Insurance Trust Fund under section 1817 of the Social Se-
curity Act (42 U.S.C. 1395i) $379,300,000,000 (which rep-
resents the full amount of on-budget savings during the pe-
† HR 3762 EAS 
riod of fiscal years 2016 through 2025) for extending Medi-
care solvency, to remain available until expended. 
Attest: 
Secretary.