H.R. 5712 — Introduced in House

I 114th CONGRESS 2d Session H. R. 5712 IN THE HOUSE OF REPRESENTATIVES July 11, 2016Mr. Messer (for himself and Ms. Stefanik) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to flatline the individual mandate penalty. 1. Short title This Act may be cited as the Obamacare Regressive Tax Relief Act. 2. Flatlining the individual mandate penalty (a) Percentage of income Section 5000A(c)(2)(B)(iii) of the Internal Revenue Code of 1986 is amended by striking 2.5 percent and inserting 1.0 percent. (b) Applicable dollar amount Section 5000A(c)(3)(A) of such Code is amended by striking $695 and inserting $95. (c) Repeal of inflation adjustment Section 5000A(c)(3) of such Code is amended by striking subparagraph (D). (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2015.