The civic record
Read. Follow. Verify.Family Cord Blood Banking Act (H.R. 8882)
Record date · June 28, 2024
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What This Bill Would Do
This bill allows families to count the costs of private umbilical cord blood and tissue banking as tax-deductible medical expenses. If passed, these payments would be treated the same as other qualified medical costs under the Internal Revenue Code.
This change would allow taxpayers who itemize their deductions to lower their taxable income by the amount spent on private cord blood banking services, provided the banking facility is accredited and compliant with federal health regulations.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Taxpayers
Individuals who pay for private cord blood banking services may be able to claim these costs as medical expenses on their federal tax returns.
Private cord blood banks
Accredited banks meeting federal health standards may see increased demand for their services due to the tax-deductible status.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Does this bill make cord blood banking free?
Are all cord blood banks covered by this bill?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently filed. The next step in the legislative lifecycle is Committee.
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Expansion of Medical Tax Deductions
The bill represents a legislative effort to expand the definition of 'medical care' to include elective, private biological storage services.
Connected Entities
Sources
www.congress.gov
Analysis Score
0–100- Significance45How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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