24 hours after Senate Republicans added repeal of the Affordable Care Act’s individual mandate to their tax plan – in order to finance corporate tax cuts that overwhelmingly benefit the wealthiest Americans – economic experts are making clear that this would have devastating costs for the middle class.
To permanently cut taxes for big business, Senate Republicans would take healthcare coverage from 13 million Americans, send health insurance markets into chaos, and cause premiums to skyrocket across the board.
On top of these new medical and financial burdens for hardworking Americans, former Obama Administration economic adviser David Kamin explains that, in 2027, $30 billion of corporate tax cuts would be paid for by raising taxes on everyone EXCEPT the richest 1% of Americans.
This comes as Republican Senators are openly admitting that they are rushing to pass this tax bill to please big money donors.
Center on Budget and […]Read more after the jump.