House GOP health bill adds up to big tax cut for the rich

by Stephen Ohlemacher | Mar 17, 2017   ()

WASHINGTON (AP) — The House Republicans' health care bill adds up to big tax cuts for the rich.

The bill would cut more than 20 taxes enacted under President Barack Obama's heath law, saving taxpayers nearly $600 billion over the next decade. The bulk of the money would go to the wealthiest Americans.

Low- and moderate-income families would lose their subsidies to buy health insurance in state and federal marketplaces. The subsidies would be replaced by tax credits to help them buy insurance.

Official estimates for how these people would fare under the bill have not been made public, even as House committees move ahead with the legislation.

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Source: Associated Press

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