1. Short title
This Act may be cited as the “Affordable Health Insurance for the Middle Class Act”.
Affordable Health Insurance for the Middle Class Act
A BILL
To amend the Internal Revenue Code of 1986 to expand eligibility for the refundable credit for coverage under a qualified health plan, and for other purposes.
2. Expanding eligibility for refundable credit for coverage under a qualified health plan
In general— Subparagraph (A) of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended by striking “400 percent” and inserting “600 percent”.
Conforming amendments—
The table contained in clause (i) of section 36B(b)(3)(A) of such Code is amended in the first column of the last row by striking “400%” and inserting “600%”.
Clause (i) of section 36B(f)(2)(B) of such Code is amended—
by striking “400 percent” and inserting “600 percent”, and
in the first column of the last row of the table contained in such clause, by striking “400%” and inserting “600%”.
Effective date— The amendments made by this section shall apply to taxable years ending after December 31, 2014.
3. Increase in excise tax rate for small cigars and cigarettes
In general—
Small cigars— Section 5701(a)(1) of the Internal Revenue Code of 1986 is amended by striking “$50.33” and inserting “$52.83”.
Small cigarettes— Section 5701(b)(1) of such Code is amended by striking “$50.33” and inserting “$52.83”.
Effective Date— The amendments made by this section shall apply to articles removed (as defined in section 5702(j) of the Internal Revenue Code of 1986) after December 31, 2014.