Obamacare Regressive Tax Relief Act

Bill: 115-hr-562
Sponsor: full_name: Rep. Messer, Luke [R-IN-6]
Introduced: 2017-01-13
Policy area: Taxation
Subjects: Health care costs and insurance

Health care coverage and access

Inflation and prices

Sales and excise taxes
Latest action: action_date: 2017-01-13
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2017-01-13
action_desc: Introduced in House
text: <p><b>Obamacare Regressive Tax Relief Act </b></p> <p>This bill amends the Internal Revenue Code to reduce the penalties for individuals who fail to maintain the minimum essential health insurance coverage required by the Patient Protection and Affordable Care Act. </p>

tv_txt: I 115th CONGRESS 1st Session H. R. 562 IN THE HOUSE OF REPRESENTATIVES January 13, 2017 Mr. Messer introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to flatline the individual mandate penalty.

1. Short title This Act may be cited as the Obamacare Regressive Tax Relief Act . 2. Flatlining the individual mandate penalty (a) Percentage of income Section 5000A(c)(2)(B) of the Internal Revenue Code of 1986 is amended to read as follows: (B) Percentage of income An amount equal to 1 percent of the excess of the taxpayer’s household income for the taxable year over the amount of gross income specified in section 6012(a)(1) with respect to the taxpayer for the taxable year. . (b) Applicable dollar amount Section 5000A(c)(3) of such Code is amended— (1) by striking subparagraphs (B) and (D), (2) by redesignating subparagraph (C) as subparagraph (B), and (3) by amending subparagraph (A) to read as follows: (A) In general Except as provided in subparagraph (B), the applicable dollar amount is $95. . (c) Effective date The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.