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H.R. 1270, Restoring Access to Medication Act of 2015 1 (September 22, 2015)

handle is hein.congrec/cbo2539 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE September 22, 2015 H.R. 1270 Restoring Access to Medication Act of 2015 As ordered reported by the House Committee on Ways andMeans on September 17, 2015 SUMMARY H.R. 1270 would amend the Internal Revenue Code to repeal the provisions that disqualify expenses for over-the-counter medicine under health savings accounts (HSAs), Archer medical savings accounts (Archer MSAs), health flexible spending arrangements (FSAs), and health reimbursement arrangements (HRAs). The staff of the Joint Committee on Taxation (JCT) estimates that enacting H.R. 1270 would reduce revenues by about $6.6 billion over the 2016-2025 period. Of that reduction, about $1.2 billion would result from changes in off-budget revenues (from Social Security payroll taxes, which are categorized as off-budget). Pay-as-you-go procedures apply because enacting the legislation would affect on-budget revenues. JCT has determined that the bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary impact of H.R. 1270 is shown in the following table. By Fiscal Year, in Millions of Dollars 2016- 2016- 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2020 2025 CHANGES IN REVENUES Estimated Revenues -305 -527 -561 -600 -645 -695 -744 -796 -852 -909 -2,638 -6,634 On-budget -223 -407 -461 -490 -530 -580 -619 -661 -712 -769 -2,111 -5,452 Off-budget -82 -120 -100 -110 -115 -115 -125 -135 -140 -140 -527 -1,182 Source: Staff of the Joint Committee on Taxation.

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