nat4900
Diamond Member
- Mar 3, 2015
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Remember this in November 2018
Republican plans to repeal the Affordable Care Act (ACA) would provide large, lopsided tax cuts to households with annual incomes over $1 million, just-released data from the Urban-Brookings Tax Policy Center (TPC) show. TPC also finds ACA repeal would significantly raise taxes on about 7 million low- and moderate-income families due to the loss of their premium tax credits to buy health coverage through the marketplace.
TPC’s new estimates show that a repeal of the ACA tax provisions similar to the reconciliation measure that President Obama vetoed in January 2016 — which GOP leaders cite as the model for their forthcoming repeal bill — would be highly tilted to the most well-off people and do the following:
Households with incomes above $1 million would receive tax cuts averaging $57,570 apiece in 2025, or more than the total annual income of any family in the bottom two-fifths of the population (all of whom will have incomes below $52,300 in 2025), according to TPC.
Millionaires the Big Winners From Repealing the Affordable Care Act, New Data Show
Republican plans to repeal the Affordable Care Act (ACA) would provide large, lopsided tax cuts to households with annual incomes over $1 million, just-released data from the Urban-Brookings Tax Policy Center (TPC) show. TPC also finds ACA repeal would significantly raise taxes on about 7 million low- and moderate-income families due to the loss of their premium tax credits to buy health coverage through the marketplace.
TPC’s new estimates show that a repeal of the ACA tax provisions similar to the reconciliation measure that President Obama vetoed in January 2016 — which GOP leaders cite as the model for their forthcoming repeal bill — would be highly tilted to the most well-off people and do the following:
Households with incomes above $1 million would receive tax cuts averaging $57,570 apiece in 2025, or more than the total annual income of any family in the bottom two-fifths of the population (all of whom will have incomes below $52,300 in 2025), according to TPC.
Millionaires the Big Winners From Repealing the Affordable Care Act, New Data Show