Affordable Health Insurance for the Middle Class Act

Bill: 113-s-2908
Sponsor: full_name: Sen. Feinstein, Dianne [D-CA]
Introduced: 2014-09-18
Policy area: Taxation
Subjects: Comprehensive health care

Drug, alcohol, tobacco use

Health care costs and insurance

Income tax credits

Sales and excise taxes
Latest action: action_date: 2014-09-18
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2014-09-18
action_desc: Introduced in Senate
text: <p>Affordable Health Insurance for the Middle Class Act - Amends the Internal Revenue Code to: (1) expand eligibility for the health care premium assistance refundable tax credit by defining an "applicable taxpayer" as a taxpayer whose&nbsp;household income does not exceed 600% of the federal poverty line (currently, 400%), and (2) increase the excise tax rate for small cigars and small cigarettes.</p>

tv_txt: II 113th CONGRESS 2d Session S. 2908 IN THE SENATE OF THE UNITED STATES September 18, 2014 Mrs. Feinstein introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to expand eligibility for the refundable credit for coverage under a qualified health plan, and for other purposes.

1. Short title This Act may be cited as the Affordable Health Insurance for the Middle Class Act . 2. Expanding eligibility for refundable credit for coverage under a qualified health plan (a) In general Subparagraph (A) of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended by striking 400 percent and inserting 600 percent . (b) Conforming amendments (1) The table contained in clause (i) of section 36B(b)(3)(A) of such Code is amended in the first column of the last row by striking 400% and inserting 600% . (2) Clause (i) of section 36B(f)(2)(B) of such Code is amended— (A) by striking 400 percent and inserting 600 percent , and (B) in the first column of the last row of the table contained in such clause, by striking 400% and inserting 600% . (c) Effective date The amendments made by this section shall apply to taxable years ending after December 31, 2014. 3. Increase in excise tax rate for small cigars and cigarettes (a) In general (1) Small cigars Section 5701(a)(1) of the Internal Revenue Code of 1986 is amended by striking $50.33 and inserting $52.83 . (2) Small cigarettes Section 5701(b)(1) of such Code is amended by striking $50.33 and inserting $52.83 . (b) Effective Date The amendments made by this section shall apply to articles removed (as defined in section 5702(j) of the Internal Revenue Code of 1986) after December 31, 2014.