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Seniors Tax Hike Prevention Act of 2016

S. 3111 · 114th Congress · Jun 29, 2016 · Lineage

A BILL

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.

Section 1 Short title

This Act may be cited as the “Seniors Tax Hike Prevention Act of 2016”.

Sec. 2 Extension of 7.5 percent threshold for medical expense deduction for individuals age 65 or older

(a)
In general— Subsection (f) of section 213 of the Internal Revenue Code of 1986 is amended—
(1)
by striking “January 1, 2017” and inserting “January 1, 2019”, and
(2)
by striking “2013, 2014, 2015, and 2016” in the heading and inserting “2013 through 2018”.
(b)
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2016.

Sec. 3 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.