7 Huge Tax Breaks in the Senate GOP Health Care Plan

[Yo_Mama_Been_Loggin]

Here are seven of the biggest tax breaks in the Senate GOP plan, according to the conservative group, Americans for Tax Reform:

1. Repeal of surtax on investment income, worth $222.8 billion over 10 years. This is the granddaddy of the Obamacare taxes directly aimed at wealthier Americans and investors. It created a new, 3.8 percent tax on investment income in households making at least $250,000 a year or for single people earning at least $200,000.

2. Repeal of health insurance tax, worth $130 billion over 10 years. This tax is directly levied on the health insurance industry and is collected annually by the Treasury and is divided among insurers based on the premiums they collect each year. While insurers have complained about the tax, they have largely passed it along to small businesses that provide health care to their employers and middle class families and others in the form of higher premiums.

3. Repeal the hike in Medicare payroll tax, worth $123 billion over 10 years. The Affordable Care Act imposes an additional 0.9 percent payroll tax on individuals making $200,000 or couples making more than $250,000. Repealing the law provides a significant tax break for upper-income Americans.

-more-

https://www.msn.com/en-us/news/politics/7-huge-tax-breaks-in-the-senate-gop-health-care-plan/ar-BBD5s0i?li=BBnb7Kz&ocid=edgsp

[L. Coyote]

1. 4. Repeal of excise tax on comprehensive health insurance plans

4. Repeal of excise tax on comprehensive health insurance plans, worth $32 billion over 10 years. ..........
5. Repeal of the “black liquor” tax hike, worth $23.6 billion over 10 years..................
6. Repeal tax on medical device manufacturers, worth $20 billion over the next 10 years. ...........
7. Repeal “medicine cabinet tax” on HSAs and FSAs, worth $6.7 billion over 10 years. ................