February 24, 2017

House Republican ACA Repeal Plan Means Millions of Working Families Lose Health Coverage While Rich and Health Care Corporations Get Huge Tax Cuts

Plan would create a new tax on workers’ employer-provided health care benefits 

WASHINGTON, D.C.Americans for Tax Fairness Executive Director Frank Clemente made the following statement in response to today’s release of the draft House Republican plan to repeal the Affordable Care Act:

“Congressional Republicans are following through on their threat to repeal all the taxes on the wealthy and health-care corporations that help pay for 20 million Americans to get health care under the Affordable Care Act.

“The result would be tens of millions of working families losing their health insurance while the wealthiest Americans and biggest health care corporations receive $600 billion in tax cuts.

“On top of that, the Republican plan would tax, for the first time ever, worker health benefits provided by their employers. Even if the worker pays 100% of the coverage under an employer-provided plan, they would still be taxed. It’s essentially a sales tax on health insurance you pay for.

“Draft legislation revealed today would roll back the expansion of Medicaid that’s covered some 13 million low-income parents and adults. It would also cut the tax credits millions of consumers receive to help pay insurance premiums in the health exchanges.

“Meanwhile, the richest Americans would collectively receive $346 billion in tax breaks. The nation’s 400 wealthiest households would each receive a $7 million tax cut, on average.

“Health care corporations—particularly insurers and drug companies—which have benefitted from the ACA’s coverage expansion, would receive hundreds of billions of dollars in tax cuts.

“Not only would the ACA’s expansion of Medicaid be rolled back but the program itself would be curtailed, arbitrarily capping payments that pay for low-income health care.

“Among the high-income taxes repealed is a special Medicare levy that’s strengthened and expanded that program for the elderly and disabled.”

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Americans for Tax Fairness is a diverse coalition of 425 national and state endorsing organizations that collectively represent tens of millions of members. The organization was formed on the belief that the country needs comprehensive, progressive tax reform that results in greater revenue to meet our growing needs. ATF is playing a central role in Washington and in the states on federal tax-reform issues.

 

MEDIA CONTACT
TJ Helmsetter, Communications Director, Americans for Tax Fairness
thelmstetter@americansfortaxfairness.org

1101 17th Street, NW • Suite 301 • Washington, D.C. 20036 • (202) 506-3264
www.AmericansForTaxFairness.org • @4TaxFairness