Preventing an Obamacare Tax on Seniors
WASHINGTON, DC – Seniors facing what amounts to a tax increase as a result of Obamacare may find relief if the Senate takes up legislation passed by the House Tuesday. The Halt Tax Increases on the Middle Class and Seniors Act repeals an Obamacare provision that raises the amount of total medical expenses from 7.5 percent of income to 10 percent for Americans to claim those expenses as itemized deductions on their taxes. This provision, already in effect for Americans under the age of 65, will hit seniors in 2017 if the Senate and President do not act.
The bill, supported by groups like the American Association of Retired Persons (AARP) and National Taxpayers Union, prevents the tax hike for seniors and provides relief for Americans already affected by it.
“With premiums and deductibles skyrocketing, the last thing American seniors need is a tax increase,” said Congressman Bob Gibbs. “Already struggling to keep up with increased medical expenses, making it more difficult for those seniors to deduct those expenses is the wrong thing to do. This proves yet again what Obamacare really is: a tax hike on Americans. After six years of failed promises, it’s clear Obamacare isn’t working. I remain committed to fully repealing this burdensome law.”
Repealing specific provisions in Obamacare has proven successful in the past, as the President has signed repeals of portions of the law on at least seven occasions.