To amend the Internal Revenue Code of 1986 to reduce the floor on the deduction for medical expenses.

I 116TH CONGRESS 2D SESSION H. R. 7714 To amend the Internal Revenue Code of 1986 to reduce the floor on the deduction for medical expenses. IN THE HOUSE OF REPRESENTATIVES JULY 21, 2020 Mr. SCHWEIKERT introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to reduce the floor on the deduction for medical expenses. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. REDUCTION IN MEDICAL EXPENSE DEDUCTION 3 FLOOR. 4 (a) IN GENERAL.—Section 213(a) of the Internal 5 Revenue Code of 1986 is amended by striking ‘‘10 per- 6 cent’’ and inserting ‘‘7.5 percent (5 percent in the case 7 of any taxable year beginning in 2020 or 2021)’’. 8 (b) CONFORMING AMENDMENT.—Section 213 of 9 such Code is amended by striking subsection (f). 10 VerDate Sep 11 2014 21:09 Aug 06, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H7714.IH H7714 pbinns on DSKJLVW7X2PROD with BILLS 2 •HR 7714 IH (c) EFFECTIVE DATE.—The amendments made by 1 this section shall apply to taxable years beginning after 2 December 31, 2019. 3 Æ VerDate Sep 11 2014 21:09 Aug 06, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H7714.IH H7714 pbinns on DSKJLVW7X2PROD with BILLS