For Immediate Release
November 15, 2017
Contact: Brad Bainum, bradb@wisdems.org
New Changes Would End Of Health Insurance Coverage For 13 Million Americans, Spike Consumer Costs by 10%
Meanwhile, Ending SALT Deduction Would Hike Taxes For Nearly 1-in-3 Wisconsinites
Corporations get across the board, permanent cuts, while middle-class families face tax hikes
The Latest: Even Ron Johnson opposes Republicans plan to target Social Security and Medicare to pay for billionaire and corporate tax cuts
Last night, U.S. Senate Republicans released an updated version of their tax bill that only adds to their earlier version’s serious problems, including by weaponizing the bill as a vehicle to take away 13 million Americans’ healthcare access.
Here are some low-lights of the Senate GOP tax bill after the latest round of changes:
- 13,000,000 More Uninsured, With 10% Premium Spike. The GOP Senate tax plan now sets up 13,000,000 Americans to become uninsured, and it would catalyze a premium spike of “about 10 percent” (there’s a reason “Insurers, doctors and hospitals oppose repeal of Obamacare individual mandate“;
- Tax Increase On Nearly 1-in-3 Wisconsinites. The new Senate GOP plan still eliminates the state and local tax (SALT) deduction (something Vukmir’s strongly advocated), which would increase taxes for 31% of Wisconsinites;
- Corporations Get Big, Permanent Cuts… While Individuals And Families Face Tax Increases. The updated Senate GOP bill sets up massive, permanent cuts for special interest corporations, while actually increasing rates on working families. And for families who do see some small benefit, it will only be temporary, while corporations reap cuts for years to come.
- Republicans Plan To Gut Social Security And Medicare To Pay For Cuts For Their Big Donors And Corporate Special Interest Backers. According to the New York Times, “The possibility of cuts to safety net programs appeared more likely on Tuesday, as the Congressional Budget Office warned that the tax bill could set off an arcane budget rule that would make deep cuts to Medicare over the next decade.” The CBO reports that the GOP tax plan could gut Medicare by $25,000,000,000.
