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To amend the Internal Revenue Code of 1986 to clarify that expenses for blood storage qualify as expenses for medical care.
12/29/2022, 12:33 PM
Summary of Bill HR 8912
Bill 117 HR 8912 aims to amend the Internal Revenue Code of 1986 to clarify that expenses for blood storage qualify as expenses for medical care. This means that individuals who incur expenses for storing blood for medical purposes will be able to deduct these expenses from their taxes as medical care expenses.
The bill seeks to provide clarity on the tax treatment of blood storage expenses, ensuring that individuals who require blood storage for medical reasons are able to receive the same tax benefits as those who incur other medical expenses. This amendment is important as it recognizes the importance of blood storage in medical care and ensures that individuals are not unfairly burdened by the costs associated with it.
Overall, Bill 117 HR 8912 aims to provide much-needed clarity and support for individuals who require blood storage for medical purposes, ensuring that they are able to receive the tax benefits they deserve.
The bill seeks to provide clarity on the tax treatment of blood storage expenses, ensuring that individuals who require blood storage for medical reasons are able to receive the same tax benefits as those who incur other medical expenses. This amendment is important as it recognizes the importance of blood storage in medical care and ensures that individuals are not unfairly burdened by the costs associated with it.
Overall, Bill 117 HR 8912 aims to provide much-needed clarity and support for individuals who require blood storage for medical purposes, ensuring that they are able to receive the tax benefits they deserve.
Congressional Summary of HR 8912
This bill expands the tax deduction for medical expenses to include expenses for storage of blood or biomaterial derived from blood.
Read the Full Bill
Current Status of Bill HR 8912
Bill HR 8912 is currently in the status of Bill Introduced since September 20, 2022. Bill HR 8912 was introduced during Congress 117 and was introduced to the House on September 20, 2022. Bill HR 8912's most recent activity was Referred to the House Committee on Ways and Means. as of September 20, 2022
Bipartisan Support of Bill HR 8912
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
0Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 8912
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 8912
To amend the Internal Revenue Code of 1986 to clarify that expenses for blood storage qualify as expenses for medical care.
To amend the Internal Revenue Code of 1986 to clarify that expenses for blood storage qualify as expenses for medical care.
Comments
Sponsors and Cosponsors of HR 8912
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