Obamacare activists marched to the offices of Senators Schumer and Gillibrand in New York City on September 5, 2017The wealthiest Americans stand to receive billions in tax cuts if the Affordable Care Act is struck down in court,released Monday from the Center for Budget and Policy Priorities, a progressive think tank.
The research found that if a Trump administration-backed federal lawsuit is successful in overturning the healthcare law, the richest taxpayers would reap substantial benefits as it would eliminate several taxes implemented to pay for the law's expansion of MedicaidThe revenue is also used to pay for refundable tax credits that help moderate-income people afford health insurance on the marketplace exchanges set up under the law.
"The net-result would be to take tens of billions of dollars each year that the federal government is spending on coverage and redirect them towards taxes primarily going to people with incomes above a million dollars a year," Aron-Dine said.Households with incomes over $250,000 for couples would receive tax cuts worth $45 billion a year. 6.2 million people would lose their insurance in similar-sized budget cuts to federal insurance programs in 37 states.
Pharmaceutical companies would have their taxes cut by $2.8 billion while at least five million seniors would have to pay over $1,000 a year for prescription drug spending. Obamacare levied a fee on pharmaceutical companies selling branded drugs.
because they were too high and shouldn't need to be. more reasons Obamacare doesn't work
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »