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Americans for Tax Reform Will Rate the Vote on AHCA

Friday, March 24, 2017 General News
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WASHINGTON, March 24, 2017 /PRNewswire-USNewswire/ -- Americans for Tax Reform urges a YES vote on AHCA.
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"The American Health Care Act is -- to start -- a $1 trillion tax cut and a $1.15 trillion spending cut over the next decade. It's passage makes fundamental tax reform possible this year. The AHCA block grants Medicaid and expands Health Savings Accounts. It's a giant step forward in lowering taxes and reforming our nation's health care system," said Grover Norquist, president of ATR.
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The American Health Care Act (HR 1628) being voted on today abolishes the following taxes:

-Abolishes the Obamacare Individual Mandate Tax which hits 8 million Americans each year. This is part of a $270 billion tax cut.

-Abolishes the Obamacare Employer Mandate Tax.

-Abolishes Obamacare's Medicine Cabinet Tax which hits 20 million Americans with Health Savings Accounts and 30 million Americans with Flexible Spending Accounts. This is a $6 billion tax cut.

-Abolishes Obamacare's FSA tax on 30 million Americans. This is a $20 billion tax cut.

-Abolishes Obamacare's Chronic Care Tax on 10 million Americans with high out of pocket medical expenses. This is a $126 billion tax cut.

-Abolishes Obamacare's HSA withdrawal tax. This is a $100 million tax cut.

-Abolishes Obamacare's 10% excise tax on small businesses with indoor tanning services. This is a $600 million tax cut.

-Abolishes the Obamacare health insurance tax. This is a $145 billion tax cut.

-Abolishes the Obamacare 3.8% surtax on investment income. This is a $172 billion tax cut.

-Abolishes the Obamacare medical device tax. This is a $20 billion tax cut.

-Abolishes the Obamacare tax on prescription medicine. This is a $28 billion tax cut.

-Abolishes the Obamacare tax on retiree prescription drug coverage. This is a $2 billion tax cut.

The AHCA Also Has Big League Spending Cuts:

Under AHCA, by 2021 federal spending on healthcare as a percentage of GDP is reduced from 6.9% to 6.3%. As time goes by, the spending reduction gets larger.

Under AHCA, by 2027 total federal spending as a percentage of GDP is reduced from 23.4% to 22.4%.

"In addition to abolishing Obamacare's taxes, the AHCA reduces the total size of government permanently," said Norquist.

Contact: John Kartch [email protected]

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/americans-for-tax-reform-will-rate-the-vote-on-ahca-300429161.html

SOURCE Americans for Tax Reform

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