GOP Repeal/Replace Bill Cuts Taxes By Nearly a Trillion Dollars

On the White House website one of the key accomplishments of President Trump’s first 50 days in office is:

PUTTING PATIENT HEALTHCARE FIRST: After years of false promises, rising costs, and shrinking accessibility, President Trump is championing reforms to put patients first.

President Trump has supported efforts by Republicans in Congress to repeal the worst parts of Obamacare and replace them with the American Health Care Act.

President Trump acted on his first day in office to instruct Federal agencies to minimize the burden of Obamacare on Americans.

Katie Pavlich in a Townhall article titled ATR: Obamacare Replacement Cuts Taxes By Nearly a Trillion Dollars reports:

Yesterday the Congressional Budget Office released its official score for the Obamacare repeal and replacement bill, better known as the American Health Care Act.

Reaction to the scoring, which estimates an additional 21 million Americans will become uninsured by 2020, was mixed. House Speaker Paul Ryan said last night he is “encouraged” by the score. However, the Trump administration is hardly pleased.

“We disagree strenuously with the report that was put out. We believe that our plan will cover more individuals at a lower cost and give them the choices that they want for the coverage that they want for themselves and for their families, not that the government forces them to buy,” Health and Human Services Secretary Tom Price said at the White House Monday evening.

But Americans For Tax Reform sees some good news. If passed, the bill will cut taxes by $883 billion. Here’s where the cuts come from:

Medicine Cabinet Tax on HSAs and FSAs
Flexible Spending Account Tax
Chronic Care Tax
HSA Withdrawal Tax Hike
Ten Percent Excise Tax on Indoor Tanning
Health Insurance Tax
Employer Mandate Tax
Surtax on Investment Income
Payroll Tax Hike
Tax on Medical Device Manufacturers
Tax on Prescription Medicine
Elimination of Deduction for Retiree Prescription Drug Coverage
$500,000 Annual Executive Compensation Limit for Health Insurance Executives

You can read more about the details and specific amounts behind this list of tax repeals here.

As we have said, this bill is out in the open. Now is the time for every citizen to read it and then contact their U.S. Senators and member of Congress and tell them what you think about this bill.

We’ve come a long way to get to this point, we’ve got a long way to go to make sure it gets done right.

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