Here are six things to know.
1. The deduction is available for medical and dental expenses that are more than 10 percent of annual adjusted gross income.
2. The deduction would be eliminated under House Republicans’ proposed version of a tax reform bill. The Senate version of the bill keeps the deduction in tact and also expands the deduction to 7.5 percent of annual adjusted gross income for 2017 and 2018, according to the report.
3. The Senate passed its tax reform bill Dec. 2, while the House passed its version in November. Both chambers must now work out differences.
4. The Washington Post reports 8.8 million Americans used the deduction two years ago.
5. Based on AARP information cited in the report, more than 50 percent of people who used the deduction in 2015 were over age 65, and nearly 70 percent of people using the deduction make $75,000 or less.
6. According to the report, the federal government would gain $10 million annually if the deduction was eliminated.
Read the full report here.
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