A bill to amend the Internal Revenue Code of 1986 to provide for a permanent extension of the lower threshold for the medical expense deduction.

Bill: 115-s-3621
Sponsor: full_name: Sen. Collins, Susan M. [R-ME]
Introduced: 2018-11-14
Policy area: Taxation
Subjects: Health care costs and insurance

Income tax deductions
Latest action: action_date: 2018-11-14
text: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S6966)

Summaries:
action_date: 2018-11-14
action_desc: Introduced in Senate
text: <p>This bill amends the Internal Revenue Code to make permanent the reduction in the adjusted gross income threshold that must be exceeded before a taxpayer is allowed to claim an itemized deduction for medical expenses. (In 2017, the threshold was temporarily reduced from 10% to 7.5% for 2017 and 2018. This bill makes the 7.5% threshold permanent.)</p>

tv_txt: II 115th CONGRESS 2d Session S. 3621 IN THE SENATE OF THE UNITED STATES November 14, 2018 Ms. Collins (for herself and Ms. Cantwell ) 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 provide for a permanent extension of the lower threshold for the medical expense deduction.

1. Permanent extension of reduction in medical expense deduction floor (a) Reduction (1) In general Section 213(a) of the Internal Revenue Code of 1986 is amended by striking 10 percent and inserting 7.5 percent . (2) Conforming amendment Section 213 of such Code is amended by striking subsection (f). (b) Repeal of minimum tax preference Section 56(b)(1) of the Internal Revenue Code of 1986 is amended by striking subparagraph (B). (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2018.