(This measure has not been amended since it was reported to the House on July 5, 2016. The summary of that version is repeated here.)
Halt Tax Increases on the Middle Class and Seniors Act
(Sec. 2) This bill amends the Internal Revenue Code to roll back the increased threshold for determining the amount of the tax deduction for medical expenses. Currently, individual taxpayers under age 65 may only deduct those medical expenses that exceed 10% of their adjusted gross income. This bill reduces that percentage to 7.5% for all taxpayers for tax years beginning after December 31, 2015.
The threshold percentage remains at 10% for purposes of computing the alternative minimum tax (AMT).