Republican Obamacare Replacement Plan Gives Giant Tax Cut To Health Insurance Executives
Surprise! The Donald Trump/Republican health care plan give a giant tax cut to health insurance executives who make more than $500,000 a year. Now you might be asking yourself, why would a health care bill need to have a tax cut from health insurance executives? And the answer to that of course is because it is a Republican health care plan.
In the Republican plan, starting in 2018, an Obamacare provision that capped the annual corporate income tax deductibility of compensation at $500,000 for any health insurance CEO, executive or employee would be removed.
This one tiny provision of Obamacare that Republicans want to do away with is expected to generate about $600 million by 2019, which helps pay for the people who gained insurance through Obamacare.
The Republican plan would reinstate a tax break for wealthy insurance company executives and do nothing to help poor and middle-income Americans afford health insurance.
Republicans were tasked with putting together a plan that will help Americans afford quality health care and the answer they came up with is to give a giant tax break to rich health insurance executives. Way to go.
