I 112th CONGRESS 1st Session H. R. 1549 IN THE HOUSE OF REPRESENTATIVES April 14, 2011 Mr. Grimm introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to repeal the unearned income Medicare contribution.

1.

Repeal of unearned income medicare contribution

(a)

In general

Subtitle A of the Internal Revenue Code of 1986 is amended by striking chapter 2A and by striking the item relating to chapter 2A from the table of chapters for such subtitle. (b)

Conforming amendments

Section 6654 of such Code is amended— (1)in subsection (a), by striking the tax under chapter 2, and the tax under chapter 2A and inserting and the tax under chapter 2, and (2)in subsection (f)— (A)by striking plus at the end of paragraph (2) and inserting minus, and (B)by striking paragraph (3) and redesignating paragraph (4) as paragraph (3). (c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2012.