Center on Budget and Policy Priorities: House Health Bill – Tax Cuts for Wealthy, Insurers, and Drug Companies Paid for by Low- and Middle-Income Families

This policy brief from the Center on Budget and Policy Priorities describes the massive tax cuts for the wealthiest of Americans, health insurance plans, pharmaceutical companies, and medical device manufacturers included in the House Republican-enacted American Health Care Act (H.R. 1628). On the other hand, the bill reduces billions of dollars in tax credits for low- and middle-income Americans that now subsidize their health insurance premiums and costs such as co-payments and deductibles. Accordingly, the policy brief characterizes the legislations as one of the largest shifts in taxes in American history, with billions of dollars in cuts for the wealthiest and billions of dollars in increased tax burdens (from the loss of the tax credits) for low- and middle-income Americans.

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