Sen. Krawiec Leads Amendment to Up Tax Deduction for Medical Expenses
Raleigh, N.C. — The North Carolina Senate this morning adopted an amendment offered by Sen. Joyce Krawiec (R-Forsyth) and developed in collaboration with Sen. Paul Newton (R-Cabarrus) to increase the tax deduction for medical expenses.
Sen. Krawiec said, “My provision provides extra tax relief to those with high medical expenses this year. I can’t think of a better time for this type of relief than a recession during a pandemic. While this change applies to everyone, I’m particularly concerned about the elderly, who are often on a fixed income and also experience more severe health consequences from COVID-19.”
Sen. Krawiec continued, “I’d like to thank Sen. Newton for bringing awareness to this issue and the budget chairs for finding the money to pay for this tax break.”
Sen. Krawiec’s amendment allows taxpayers this year to deduct medical expenses that exceed 7.5% of gross income. Current law allows deductions in excess of 10% of gross income.
The measure passed the Senate unanimously.