GOP health plan: Tax cuts for rich; hits older people hard
In all, the bill provides
The vast majority of those taxes targeted the wealthy.
For example, the biggest tax cut in the
About 90 percent of the benefit from repealing the tax would go to the top 1 percent of earners, who make
Another big tax cut would repeal an extra 0.9 percent
The bill also repeals a tax on health insurers, saving them
"Our fiscally responsible reforms will lower premiums over the long term and deliver much-need relief from Obamacare's crushing taxes and mandates," said Rep.
House Speaker
Two House committees have already passed their sections of the bill. The
"They have no idea how to explain stealing
Sen.
Older people who are not yet eligible for
Older Americans get hit two ways. The
Wealthier households would benefit under the
The Obama law aimed to help low- to moderate-income families.
The
A 40-year-old making
CURRENT LAW
—Annual premium:
—Tax credit:
—Cost to the individual:
GOP PLAN
—Annual premium:
—Tax credit:
—Cost to the individual:
A 64-year-old making
CURRENT LAW
—Premium:
—Tax credit:
—Cost to the individual:
GOP PLAN
—Premium:
—Tax credit:
—Cost to individual:
A 40-year-old making
CURRENT LAW
—Premium:
—Tax credit: 0.
—Cost to the individual:
GOP PLAN
—Premium:
—Tax credit:
—Cost to the individual:
A 64-year-old making
CURRENT LAW
—Premium:
—Tax credit: 0.
—Cost to the individual:
GOP PLAN
—Premium:
—Tax credit:
—Cost to the individual:
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