CRAMER: Bill Halting Obamacare Tax Increase Helps Middle Class and Seniors
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Congressman Kevin Cramer called a bill passed by the House today one more effort to halt the financial burden Obamacare has placed on Americans. H.R. 3590, the Halt Tax Increases on the Middle Class and Seniors Act, passed with a bipartisan vote of 261-147.
The bill provides relief for Americans with expensive medical bills by repealing an Obamacare tax hike and reinstating the previous allowable deduction level. It amends the Internal Revenue Code to permanently lower the threshold where individuals may claim an itemized deduction. Before Obamacare, tax laws allowed individuals to deduct medical expenses that were greater that 7.5 percent of their income. Obamacare increased that deduction threshold to 10 percent of income, and this bill brings that deduction back down to 7.5 percent.
“Obamacare premiums have been increasing every year, and this tax hike further burdens Americans struggling with high medical bills,” said Cramer. “House Republicans will continue to look at ways we can bring relief to those facing the highest medical bills.”