H.R. 7714 · 116th Congress
To amend the Internal Revenue Code of 1986 to reduce the floor on the deduction for medical expenses.
- Stage
- In committee
- Sponsor
- David Schweikert
- Introduced
- 2020-07-21
- Latest action
- 2020-07-22 · Referred to the Subcommittee on Health.
Summary
This bill makes permanent the reduction in the adjusted gross income (AGI) threshold that must be exceeded before a taxpayer may claim a deduction amount for medical expenses. The reduction is from 10% to 7.5% of AGI and 5% in any taxable year beginnning in 2020 or 2021.