Please do not tap the hole to a larger size bolt. They make heli-coils for this type repair. You can buy a Helicoil tap and insert with installer as a kit, if you don't have one. If it were me, I'd install a self locking Helicoil so the the action screw would be less likely to back out. https://www.amazon.com/Helicoil-5528...6610855&sr=8-3

Some things to look out for: Make sure the helicoil is the correct length for the depth of hole. You can cut off excess coils if necessary. Don't try to back out the coil if you don't like how it seats. Just run it all the way through. Backing out requires a removal tool.