Intelligence Unit Special Reports Special Events Subscribe Sponsored Departments Follow Us

Twitter Facebook LinkedIn RSS

Senate looks to trim tax break for personal medical costs

Wall Street Journal, June 23, 2009

A proposal in the Senate to limit tax deductions for medical costs would fall hardest on middle-income taxpayers who are uninsured and who come up against expensive health problems. Currently, a taxpayer may claim a deduction for medical or dental expenses only to the extent those costs exceed 7.5% of the person's adjusted gross income. Senate negotiators are discussing raising that threshold to 10%, in effect denying deductions for many taxpayers who could claim them today.