Medicare Outpatient Prescription Drug Coverage Funding Act of 2002
Last action on Apr 10, 2002Referred to the House Committee on Ways and Means.
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Summary
Medicare Outpatient Prescription Drug Coverage Funding Act of 2002 - Amends title XVIII (Medicare) of the Social Security Act (SSA) to transfer certain Federal estate tax revenues to the Federal Hospital Insurance Trust Fund (FHI). Establishes within FHI a separate "Outpatient Prescription Drug Account" to be used for outpatient prescription drug benefits.
Amends the Internal Revenue Code to make permanent, as of 2007, a 45 percent maximum estate tax rate. Repeals the repeal of estate, gift, and generation-skipping transfer taxes by the Economic Growth and Tax Relief Reconciliation Act of 2001 (thus restoring such taxes).
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