Final Tax Bill, That Includes Individual Mandate Repeal, Looks Headed For Passage
Sen. Susan Collins (R-Maine) negotiated a promise that in exchange for her vote on the tax bill, health care legislation aimed at shoring up the Affordable Care Act marketplaces will pass. But critics think she's being played. Meanwhile, the pharmaceutical industry has a lot to be happy about with the tax package.
The Associated Press:
Tax Bill Guts Unpopular 'Obamacare' Insurance Mandate
Republicans didn't get their wish to repeal former President Barack Obama's health care law, but the tax bill barreling toward a final vote in Congress guts its most unpopular provision, the requirement that virtually all Americans carry health insurance. Politically, the move is a winner for Republicans, who otherwise would have little to show for all their rhetoric about "Obamacare." (Alonso-Zaldivar, 12/16)
The Associated Press:
Huge Tax Bill Heads For Passage As GOP Senators Fall In Line
After weeks of quarrels, qualms and then eleventh-hour horse-trading, Republicans revealed the details of their huge national tax rewrite late Friday — along with announcements of support that all but guarantee approval to give President Donald Trump the Christmas legislative triumph he's been aching for. (Ohlemacher and Gordon, 12/16)
The Washington Post:
GOP Faces 5-Day Scramble To Pass Tax Bill, Avoid Government Shutdown
Republicans return to Congress on Monday facing a packed agenda with little time to enact it, as party leaders aim to quickly pass their massive tax plan and then cut a budget deal with Democrats before the end of Friday to avert a government shutdown. Republicans’ tight timing on taxes is self-imposed. (Stein, DeBonis and Reis, 12/17)
The Washington Post:
Sen. Susan Collins Takes Huge Leap Of Faith With Tax Bill. Critics Say She’s Getting Played.
As GOP tax legislation nears final passage on Capitol Hill, Sen. Susan Collins is approaching the moment for a mighty leap of faith. The Maine Republican extracted key concessions in exchange for her support for the bill, including commitments from the Trump administration and Senate leaders to back two pieces of legislation pumping money into the health-care system. The problem is, House Republicans largely oppose the health-care bills. (Werner, 12/15)
The New York Times:
The Winners And Losers In The Tax Bill
With the bill finally headed to a vote this coming week, taxpayers are scrambling to determine whether the legislation renders them winners or losers. ... With the repeal of the individual mandate, some people who currently buy health insurance because they are required by law to do so are expected to go without coverage. According to the Congressional Budget Office, healthier people are more likely to drop their insurance, leaving insurers stuck with more people who are older and ailing. This is expected to make average insurance premiums on the individual market go up by about 10 percent. All told, 13 million fewer Americans are projected to have health coverage, according to the Congressional Budget Office. (Drucker and Rappeport, 12/16)
The Hill:
Final GOP Tax Bill Repeals ObamaCare Mandate
The final Republican tax-reform bill unveiled Friday repeals ObamaCare’s individual insurance mandate, leaving the GOP poised to blow a significant hole in the health-care law next week. The change, which takes effect in 2019, removes one of the least popular parts of ObamaCare, but one that many experts warn is necessary to make the law function smoothly. (Sullivan, 12/15)
Stat:
Final Tax Bill Holds Much To Please Biopharma
The tax overhaul that Republicans hope to send to President Trump’s desk next week is expected to lighten the tax burden on the pharmaceutical industry and provide a number of other benefits that could help drug makers boost their bottom lines. The final version of the bill, released late Friday, retains a key tax credit aimed at incentivizing research into rare disease treatments — an improvement over an early draft that repealed it for the industry. The package will also lower the tax rate companies have to pay on earnings they stockpiled overseas, though the final rate is higher than in earlier drafts. (Mershon, 12/15)
The New York Times:
How The Republican Tax Bill Could Affect You
The $1.5 trillion Republican tax bill would make major changes to the tax code. But what do they mean for you? This is how the agreement’s changes to some common deductions and taxes could affect Americans. (Andrews, Buchanan, Davis and Watkins, 12/15)
The New York Times:
John McCain, Fighting Brain Cancer, Likely To Miss Vote On Tax Overhaul
Senator John McCain, who is battling brain cancer, has returned home to Arizona and is likely to miss the Senate’s vote this week to approve a sweeping tax overhaul, though President Trump said on Sunday that the senator would return if his vote was needed. Mr. McCain’s office said in a statement on Sunday night that the senator, who had been hospitalized recently in the Washington area, would undergo physical therapy and rehabilitation at the Mayo Clinic in Arizona and “looks forward to returning to Washington in January.” (Kaplan, 12/17)
Kaiser Health News:
Podcast: ‘What The Health?’ Farewell, Individual Mandate
The compromise tax bill emerging from Republican efforts in Congress appears to have jettisoned a number of contentious health-related changes. Still, it seems likely lawmakers will repeal the penalties for not having health insurance. That so-called individual mandate was considered a linchpin of the Affordable Care Act, but now it seems possible the rest of the health law could survive without it. (12/15)
