IN THE SENATE OF THE UNITED STATES
January 10, 2019
Ms. Collins (for herself and Ms. Cantwell) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to provide for a permanent extension of the lower income threshold for the medical expense deduction.
This Act may be cited as the
Medical Expense Savings Act.
Permanent extension of reduction in medical expense deduction floor
Section 213(a) of the Internal Revenue Code of 1986 is amended by striking
10 percent and inserting
Section 213 of such Code is amended by striking subsection (f).
Repeal of minimum tax preference
Section 56(b)(1) of the Internal Revenue Code of 1986 is amended by striking subparagraph (B).
The amendments made by this section shall apply to taxable years beginning after December 31, 2018.