As of last night, Congressional Republicans are coming after the Affordable Care Act again as they reach for cash to pay for their massive corporate tax cut and elimination of the tax on estates valued at over $5 million. Call and tell your Senators and Representatives that this is just plain wrong. From WaPo, Finance 202, this morning:
House and Senate Republicans are moving to repeal the Affordable Care Act’s individual mandate — a surprise turn that would yield more than $300 billion in much-needed revenue even as it revives the toxic politics of the GOP’s summertime drive to gut the landmark law.
Senate GOP tax writers incorporated the high-stakes maneuver into the latest version of their plan (see full text here), released late Tuesday night. They applied the new revenue to making permanent the deeply-slashed 20 percent corporate rate at the heart of the tax plan; doubling the child tax credit to $2,000; and expanding access to a deduction for pass-through businesses. But the updated bill sunsets individual rate cuts at the end of 2025.
Read more reasons against this boondoggle for the rich in our Action Alert on the Tax Bill from 10 days ago.
“The specter of knocking out a pillar of the [Affordable Care Act] drew a warning shot Tuesday from a number of healthy industry groups, including America’s Health Insurance Plans, the American Hospital Association, and the American Medical Association. They admonished congressional leaders that the move would jack up premiums and reduced the rate of the insured (by 13 million, according to an estimate from the Congressional Budget Office).” WaPo, Finance 202, 11/15/2017.