In Repeal-And-Replace Package, Senate Gives New Look To Pegging Tax Credits To Income
The approach - which Politico says would make the insurance subsidies "look a lot like Obamacare" - is billed as a breakthrough in the upper chamber but would likely face difficulties among House conservatives.
Politico:
Tax Credits May Provide Rallying Point For Senate Obamacare Repeal
Senate Republicans are working on a potential breakthrough that could help push through an Obamacare repeal bill – by making insurance subsidies look a lot like Obamacare. There’s growing support for the idea of pegging the tax credits in the House repeal bill to income and making aid more generous for poorer people. But those moves — while they may win consensus among Senate moderates — are unlikely to sit well with House conservatives. (Haberkorn, 5/11)
Also in the news —
The Wall Street Journal:
What May Happen To Your Medical Tax Deduction
Millions of taxpayers who deduct medical expenses each year are right to be concerned. Congress is attempting to make massive changes to both America’s health-care system and tax code. With those changes in mind, worried readers of Tax Report have written to ask what the impact will be on the one issue that is common to both: the medical-expense tax deduction. (Saunders, 5/12)
