To amend the Internal Revenue Code of 1986 to allow individuals a tax deduction for expenses exceeding 5 percent of adjusted gross income incurred in care of certain elderly individuals, to allow physicians and registered professional nurses a tax deduction for the cost of certain goods and services donated by them to elderly individuals, and to permit tax-free withdrawals from individual retirement accounts to pay certain long-term care expenses or purchase insurance to cover such expenses.
Elderly Americans' Economic Security Act of 1991 - Amends the Internal Revenue Code to allow a tax deduction for qualified elderly care expenses which exceed five percent of the taxpayers adjusted gross income.
Allows a charitable deduction to physicians and registered professional nurses for medical services or goods donated to elderly individuals.
Allows tax-free withdrawals from individual retirement accounts to pay long-term care expenses or to purchase insurance covering such expenses.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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