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United States · Bill · HR

H.R. 2039 (100th)

Elderly Americans' Economic Security Act of 1987

referredUnited States· United States Congress· EN

Introduced

9 April 1987

Last action

9 April 1987 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Bilirakis, Michael [R-FL-9], Rep. McCollum, Bill [R-FL-8], Rep. Schuette, Bill [R-MI-10], Rep. Vucanovich, Barbara F. [R-NV-2], Rep. Bentley, Helen Delich [R-MD-2], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Roth, Toby [R-WI-8], Rep. Stangeland, Arlan [R-MN-7], Rep. Shumway, Norman D. [R-CA-14], Rep. DioGuardi, Joseph J. [R-NY-20], Rep. Sundquist, Don [R-TN-7], Rep. Johnson, Nancy L. [R-CT-5], Rep. Wortley, George C. [R-NY-27], Sen. Craig, Larry E. [R-ID], Rep. Hiler, John Patrick [R-IN-3], Rep. Upton, Fred [R-MI-6], Sen. Smith, Bob [R-NH], Rep. Lungren, Daniel E. [R-CA-3], Rep. Herger, Wally [R-CA-2], Rep. Davis, Jack [R-IL-4], Rep. Wolf, Frank R. [R-VA-10], Rep. Rhodes, John J., III [R-AZ-1], Rep. Saiki, Patricia [R-HI-1], Sen. Inhofe, James M. [R-OK], Rep. Smith, Denny [R-OR-5], Rep. McEwen, Bob [R-OH-6], Rep. Baker, Richard H. [R-LA-6], Rep. Holloway, Clyde [R-LA-8], Rep. Packard, Ron [R-CA-48], Rep. Ridge, Thomas J. [R-PA-21], Rep. McCrery, Jim [R-LA-4]

Subjects

Taxation

Source updated

28 August 2025

Taxation

Official sourceView documentsShare

Summary

Elderly Americans' Economic Security Act of 1987 - Amends the Internal Revenue Code (IRC) to permit an income tax deduction to an individual taxpayer for the expenses of certain in-home custodial care (personal, as opposed to medical, care) of the taxpayer's elderly (age 65 or older) parent, grandparent, or dependent. Limits the deduction to the amount of expenses: (1) exceeding five percent of the taxpayer's adjusted gross income; and (2) not paid for by insurance or otherwise. Prohibits the application of other tax credit or tax deduction provisions to amounts subject to a deduction under this Act. Includes as charitable contributions (and thus tax deductible) certain medical services and goods provided by a physician or registered professional nurse to an individual age 65 or older. Describes criteria for the valuation of such contributions. Permits tax-free withdrawals from an individual retirement account or individual retirement annuity if the entire amount is used within 30 days of its receipt to: (1) pay the individual's long-term care expenses; or (2) purchase insurance covering such expenses. Revises an IRC definition of "group health plan" to permit as an income tax deduction employer contributions to plans providing long-term care expenses.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 9 April 1987

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 9 April 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 9 April 1987

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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