WASHINGTON, Dec. 3 -- Sen. Josh Hawley issued the following press release:
Today, U.S. Senator Josh Hawley (R-Mo.) announced the No Taxes on Healthcare Act to provide relief for American families from out-of-control medical costs that have skyrocketed in recent years.
Studies estimate that nearly 41 percent of adults in the United States have some form of debt stemming from medical expenses. In the last year alone, a recent Gallup report found that 31 million Americans borrowed money to pay for healthcare. But under the current tax system, only itemizing taxpayers-those who do not take the standard deduction-can use medical costs to reduce their tax burden, and only then for expenses that exceed 7.5 percent of income. That means 90 perce...