Addressing Affordability for More Americans Act of 2017

Bill: 115-s-1529
Sponsor: full_name: Sen. Heitkamp, Heidi [D-ND]
Introduced: 2017-07-11
Policy area: Taxation
Subjects: Health care costs and insurance

Income tax credits
Latest action: action_date: 2017-07-11
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2017-07-11
action_desc: Introduced in Senate
text: <p><b>Addressing Affordability for More Americans Act of 2017 </b></p> <p>This bill amends the Internal Revenue Code, with respect to the health care premium assistance refundable tax credit, to: (1) expand eligibility for the credit by defining an &quot;applicable taxpayer&quot; as a taxpayer whose household income for the year does not exceed 800% of the federal poverty line (currently 400%), (2) specify the applicable premium percentages for the credit for taxpayers with incomes that are from 400% to 800% of the federal poverty line, and (3) specify the dollar limitations for the recapture of excess advance payments of the credit from such taxpayers. </p>

tv_txt: II 115th CONGRESS 1st Session S. 1529 IN THE SENATE OF THE UNITED STATES July 11, 2017 Ms. Heitkamp (for herself, Mrs. Shaheen , and Mr. King ) 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.

1. Short title This Act may be cited as the Addressing Affordability for More Americans Act of 2017 . 2. Increase in eligibility for credit (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 800 percent . (b) Applicable percentages The table contained in clause (i) of section 36B(b)(3)(A) of the Internal Revenue Code of 1986 is amended by striking the period at the end of the last row and by adding at the end the following new rows: 400% up to 550% 9.5% 11% 550% up to 700% 11% 13% 700% up to 800% 13% 15%. . (c) Limitation on recapture Clause (i) of section 36B(f)(2)(B) of the Internal Revenue Code of 1986 is amended— (1) by striking 400 percent and inserting 800 percent ; (2) by striking the period at the end of the last row of the table; and (3) by adding at the end of the table the following new rows: At least 400% but less than 600% $3,500 At least 600% but less than 800% $4,500. . (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017.