Medical Expense Tax Credit Act

[AI summary unavailable — showing source text] Medical Expense Tax Credit Act - Amends the Internal Revenue Code to allow individuals a refundable tax credit for medical expenses. Provides for advance payment of the refund in cases where qualified expenses exceed adjusted gross income. Directs the President to report to Congress on the utility of this tax credit in meeting the Nation's health care needs and its adequacy as a replacement for other programs.…