...because the legislation, which narrowly passed the House Thursday, would still repeal the tax hikes imposed by Obamacare on high-income households. They were intended to help fund insurance subsidies and other provisions.
In addition to encouraging states to re-create "high-risk pools" for those with pre-existing conditions --where healthcare premiums have double what they are for everybody else. The bill also would expand the contribution limits for certain tax-advantaged accounts.
There are no official public estimates of the revised bill's cost nor how it would change the bottom line for different income groups. But the story is likely to be similar to that under the original bill, said Gordon Mermin, senior research associate at the Tax Policy Center. That is, the wealthy are likely to see tax savings, while the lowest income households are likely to see benefit cuts.
~CNNRead More:
http://money.cnn.com/2017/05/04/news/economy/tax-cuts-obamacare-repeal/index.html?iid=EL
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