Set up the new taxes

Months 0–18 · Treasury, IRS, SSADiscuss this step

Medical expense deduction (IRC §213) and self-employed health insurance deduction (§162(l))

amendedBy waveFederal tax code

Today

Itemized deduction above 7.5% of AGI; self-employed deduct premiums.

Under the plan

Self-employed premium deduction ends; medical deduction kept for non-covered costs (e.g., nursing-home room and board).

Trade-off

Small revenue gain; keeps relief for catastrophic non-covered costs.