IN THE SENATE OF THE UNITED STATES
October 18, 2017
Mr. Brown (for himself, Mr. Portman, Mr. Nelson, and Mrs. Capito) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to extend the 7.5 percent threshold for the medical expense deduction for individuals age 65 or older.
This Act may be cited as the
Seniors Tax Hike Prevention Act of 2017.
Extension of 7.5 percent threshold for medical expense deduction for individuals age 65 or older
Subsection (f) of section 213 of the Internal Revenue Code of 1986 is amended—
January 1, 2017 and inserting
January 1, 2020; and
2013, 2014, 2015, and 2016 in the heading and inserting
2013 through 2019.
The amendments made by this section shall apply to taxable years beginning after December 31, 2016.
Sense of the Senate relating to offsetting revenue loss
It is the sense of the Senate that the reduction in revenues to the Treasury resulting from the amendments made by section 2 should be offset by means of an appropriate amendment to the Internal Revenue Code of 1986.