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Currently we're only calibrating to medical expenses total (SNAP motivated it). Let's also calibrate to the itemized deduction, which only applies to expenses in excess of 7.5% of AGI.
The text was updated successfully, but these errors were encountered:
Treasury's tax expenditures report projects that the itemized deduction for medical expenses costs $12.9 billion in 2024, compared to our $5.5 billion.
Currently we're only calibrating to medical expenses total (SNAP motivated it). Let's also calibrate to the itemized deduction, which only applies to expenses in excess of 7.5% of AGI.
The text was updated successfully, but these errors were encountered: