Senate “Health Care” Bill a Giant Money Grab for the Wealthy

Tax Cuts for the Rich, Less Coverage for the Masses

Wikimedia Commons

Justin Miller: “Instead of moderating the GOP House’s version, the Senate health-care bill doubles down on cuts in coverage and tax cuts for the rich.”

“The Senate version, as expected, retains the House’s Affordable Care Act tax cuts, which by 2025 will save millionaires nearly $55,000 each year. To put a finer point on it, the richest 400 households in the country would receive tax cuts worth $33 billion between 2019 and 2028.”

“Both the House and Senate versions call to eliminate the ACA’s Medicaid expansion …. However, the Senate bill includes even steeper cuts to Medicaid funds over the long term, putting at risk the low-income health-care program’s very existence.”

“The bill also turns the ACA’s coverage subsidies into tax credits and lowers the income threshold, making it harder for middle-income Americans to afford market rate coverage. Meanwhile, the coverage that they’re currently paying for would no longer include “essential health benefits,” such as mental-health treatment, certain types of hospital stays, and maternity care.”

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