II
113th CONGRESS
2d Session
S. 2908
IN THE SENATE OF THE UNITED STATES
September 18, 2014
Mrs. Feinstein introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to expand eligibility for the refundable credit for coverage under a qualified health plan, and for other purposes.
Short title
This Act may be cited as the Affordable Health Insurance for the Middle Class Act
.
Expanding eligibility for refundable credit for coverage under a qualified health plan
In general
Subparagraph (A) of section 36B(c)(1) of the Internal
Revenue Code of 1986 is amended by striking 400 percent
and
inserting 600 percent
.
Conforming amendments
The
table contained in clause (i) of section 36B(b)(3)(A) of such Code is amended in
the first column of
the last row by striking 400%
and inserting 600%
.
Clause (i) of section 36B(f)(2)(B) of such Code is amended—
by striking
400 percent
and inserting 600 percent
, and
in the first column of the last row of the table contained in such clause, by striking 400%
and inserting 600%
.
Effective date
The amendments made by this section shall apply to taxable years ending after December 31, 2014.
Increase in excise tax rate for small cigars and cigarettes
In general
Small cigars
Section 5701(a)(1) of the Internal Revenue Code of 1986 is
amended by striking $50.33
and inserting
$52.83
.
Small cigarettes
Section 5701(b)(1) of such Code is amended by striking
$50.33
and inserting $52.83
.
Effective Date
The amendments made by this section shall apply to articles removed (as defined in section 5702(j) of the Internal Revenue Code of 1986) after December 31, 2014.