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Obamacare taxes on the rich may remain after all

Source: nbc-2.com - Jul 12, 2017

NEW YORK (CNNMoney) -- Looks like the Senate health care bill may not cut Obamacare's taxes on the rich.

The Senate is set Thursday to unveil an updated version of the bill to repeal the health care law. The proposal is expected to keep taxes on the wealthy, said Texas Senator John Cornyn, the Senate's majority whip, on Tuesday. The funds could then be used to help lower premiums and deductibles.

This would be a retreat from a key GOP promise.

Congressional Republicans have come under fire for seeking to eliminate the taxes while stripping coverage from millions of Americans. Repealing the taxes would cost the federal government roughly $230 billion in revenue over 10 years.

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Category: General Business

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