Rep. Ron Barber, a Democratic from Arizona, introduced a bill to repeal a provision of Obamacare that threatens to increase costs for senior citizens in 2017 after constituents brought the issue to his attention.
At the moment, taxpayers can take a federal income tax deduction for medical expenses that exceed 7.5 percent of their adjusted gross income, but under ObamaCare, that will change. Another hidden tax increase – especially for seniors!
As part of health care reform, this year that threshold is to be raised to 10 percent for taxpayers under age 65. In 2017, the increase also will apply to taxpayers 65 years of age and older, who really have a difficult time paying bills since most live on social security and higher medial costs!