Summary: H.R.7714 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.7714. Bill summaries are authored by CRS.

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Introduced in House (07/21/2020)

This bill makes permanent the reduction in the adjusted gross income (AGI) threshold that must be exceeded before a taxpayer may claim a deduction amount for medical expenses. The reduction is from 10% to 7.5% of AGI and 5% in any taxable year beginnning in 2020 or 2021.