Rep. Poliquin Votes to Block Tax Hike on Seniors

Statement

Yesterday, Maine's 2nd District Congressman, Bruce Poliquin, voted in favor of a bill to block an increase in taxes on seniors under ObamaCare that is scheduled to occur on January 1, 2017. The Halt Tax Increases on the Middle Class and Seniors Act passed the House 261-147 with bipartisan support.

"We all know that the cost of living for our hardworking middle-class families, and especially our seniors, is not getting any lower," said Congressman Poliquin. "We should be making it easier, not harder, for Americans to afford health care costs.

"ObamaCare continues to have disastrous consequences for our families across Maine. The health care law incurs massive costs that are being paid for at the expense of our hardworking middle-class families. Now, these same tax increases are scheduled to occur for our seniors at a time when they can least afford it. The House has acted to block this unfair tax hike on our seniors and to restore the original tax benefits for our middle-class families."

Qualified medical expenses are deductible by an individual so long as they are higher than a certain cost, determined as a percentage of adjusted gross income (AGI). Under ObamaCare, this floor percentage was raised from 7.5% to 10% of AGI for those under 65 years of age, causing higher costs for the individual. Those 65 years and older, however, are still able to use the 7.5% floor until January 1, 2017. The President's health care law requires individuals 65 years or older to begin to use the 10% floor. The Halt Tax Increases on the Middle Class and Seniors Act will permanently lower the AGI threshold from 10% back to 7.5% for all taxpayers, regardless of age.

Source