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Senate GOP tax bill will include repeal of ObamaCare mandate
The GOP apparently will include a repeal of the ACA in their tax reform legislation. IMO, because the proposed GOP Senate (and GOP House) versions of tax reform are in excess of the $1.5 trillion dollar/decade limit to pass tax legislation using the Senate Rules of Reconciliation (51 votes to pass rather than 60) the GOP has to find an additional savings of ~1.2 trillion dollars/decade. Rather than decrease the huge tax breaks to the 1% wealthy and corporations, the GOP will save the ~1.2 trillion/decade by repealing Obamacare and removing healthcare from millions of Americans.
BY ALEXANDER BOLTON, PETER SULLIVAN AND NAOMI JAGODA
The Hill
11/14/17
Senate Majority Leader Mitch McConnell (R-Ky.) announced Tuesday that the Senate tax bill will include language to repeal ObamaCare’s individual mandate, which could make it tougher for moderate Republicans to support. Conservatives led by GOP Sens. Ted Cruz (Texas), Rand Paul (Ky.) and Tom Cotton (Ark.) pushed hard to include the provision, which would eliminate the federal penalty on people who do not buy health insurance. President Trump has also pushed for the provision to be part of the tax bill. McConnell told reporters that adding the individual mandate repeal will make it easier to muster 50 votes to pass the bill. Sen. John Thune (S.D.), the Senate's No. 3 Republican, told reporters there has been a whip count and he is confident Republicans can pass a tax bill that includes a measure to repeal the mandate. Thune said a compromise bill negotiated by Sens. Lamar Alexander (R-Tenn.) and Patty Murray (D-Wash.), aimed at stabilizing ObamaCare markets, would be brought up separately. That bill funds key payments to insurers for two years in exchange for more flexibility for states to change ObamaCare rules.
Senate Minority Leader Charles Schumer (D-N.Y.) blasted the move, saying in a statement, "Republicans just can’t help themselves. They’re so determined to provide tax giveaways to the rich that they’re willing to raise premiums on millions of middle-class Americans and kick 13 million people off their health care." Experts have predicted repealing the mandate would undermine the stability of ObamaCare. The Congressional Budget Office (CBO) has said 13 million people would lose health insurance. Alexander added that experts have called the penalty too low to make much of a difference, and the CBO recently revised its estimates of the mandate repeal. "So I don't think we know [the impact], but I think it would be a very bad idea to repeal the individual mandate and not pass Alexander-Murray," Alexander said.
The GOP apparently will include a repeal of the ACA in their tax reform legislation. IMO, because the proposed GOP Senate (and GOP House) versions of tax reform are in excess of the $1.5 trillion dollar/decade limit to pass tax legislation using the Senate Rules of Reconciliation (51 votes to pass rather than 60) the GOP has to find an additional savings of ~1.2 trillion dollars/decade. Rather than decrease the huge tax breaks to the 1% wealthy and corporations, the GOP will save the ~1.2 trillion/decade by repealing Obamacare and removing healthcare from millions of Americans.