S. 1514 · 109th Congress
OTC Medicine Tax Fairness Act of 2005
- Stage
- In committee
- Sponsor
- Jim DeMint
- Introduced
- 2005-07-27
- Latest action
- 2005-07-27 · Read twice and referred to the Committee on Finance.
Summary
The OTC Medicine Tax Fairness Act of 2005 - Amends the Internal Revenue Code to repeal the provision limiting the tax deduction for medicine and drugs to prescribed drugs and insulin (thus allowing a tax deduction for over-the-counter medications).