Amends the Internal Revenue Code to repeal the 3.8% Medicare contribution tax on net investment income.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1549 Introduced in House (IH)]
112th CONGRESS
1st Session
H. R. 1549
To amend the Internal Revenue Code of 1986 to repeal the unearned
income Medicare contribution.
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IN THE HOUSE OF REPRESENTATIVES
April 14, 2011
Mr. Grimm introduced the following bill; which was referred to the
Committee on Ways and Means
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A BILL
To amend the Internal Revenue Code of 1986 to repeal the unearned
income Medicare contribution.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. REPEAL OF UNEARNED INCOME MEDICARE CONTRIBUTION.
(a) In General.--Subtitle A of the Internal Revenue Code of 1986 is
amended by striking chapter 2A and by striking the item relating to
chapter 2A from the table of chapters for such subtitle.
(b) Conforming Amendments.--Section 6654 of such Code is amended--
(1) in subsection (a), by striking ``the tax under chapter
2, and the tax under chapter 2A'' and inserting ``and the tax
under chapter 2'', and
(2) in subsection (f)--
(A) by striking ``plus'' at the end of paragraph
(2) and inserting ``minus'', and
(B) by striking paragraph (3) and redesignating
paragraph (4) as paragraph (3).
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2012.
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Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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