Senate Should Pass the Better Care Reconciliation Act

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Posted by Alexander Hendrie on Friday, June 30th, 2017, 2:00 PM PERMALINK

Passage of the Senate Health Bill is A Conservative Win [link]

- Obamacare suppressed individual choice, competition, and state flexibility, and imposed a long list of taxes on businesses and families.

- The Senate's Better Care Reconciliation Act (BCRA) will replace the failing system with a sustainable, patient-centered health care system, just as Republicans promised in the last election.

-  The bill repeals a total of $700 billion dollars in Obamacare taxes that raise the cost of care, restrict choice, and hurt economic growth.

- The BCRA strengthens tax-preferred Health Savings Accounts, so that families are better able to save for health care expenses.

- The bill allows states to implement health care systems that work for families in the real world. No longer will we have a one size fits all system dreamed up by bureaucrats in Washington and policed by the IRS.

- The BCRA enacts long overdue entitlement reform that reins in out of control spending while ensuring the truly needy are protected.

The Senate Plan to Abolish Obamacare Taxes Is Good for the Middle Class [link]

-  The narrative from the media has been that this bill is a giant tax cut for “the rich.” This narrative is false.

- Obamacare imposed a long list of taxes that directly hit middle class families.

- Many of these taxes have been used to enforce the Obamacare vision of bigger government, more regulations and rules, and fewer choices.

- Former President Obama promised he would not raise any form of tax on any American making less than $250,000 a year. But he shattered the promise when he signed Obamacare into law.

The Senate Bill Reforms Medicaid in A Fiscally Responsible Way [link]

- Under the reforms in the BCRA, Medicaid will continue to grow. No one is kicked off the program, and no one loses their federal Medicaid eligibility.

- The Senate bill ensures that Medicaid does not grow faster than the economy by tying the program to inflation.

- These Medicaid reforms were originally proposed by the Clinton Administration.

 The Senate Bill Repeals Obamacare’s Medicine Cabinet Tax [link]

- Repeal of this tax provides relief to the 30 – 35 million Americans with a Flexible Spending Account and the 20 million Americans with a Health Savings Account.

- Under this tax, Americans are forbidden from using HSAs and FSAs to purchase over the counter medicines such as cold, cough, and flu medicines, aspirin, and allergy medicines.

- This is a $5.6 billion tax cut.

The Senate Bill Also Repeals Obamacare’s Chronic Care Tax [link]

- Before Obamacare, Americans facing high out of pocket medical expenses were allowed an income tax deduction to the extent that those expenses exceeded 7.5 percent of adjusted gross income (AGI).

- Obamacare now imposes a threshold of 10 percent of AGI.

- The Obamacare Chronic Care Tax hits at least 10 million American households making an average of $53,000.

- This is a $36 billion tax cut.

The Senate Bill Should Keep Repeal of the 3.8 Percent Net Investment Income Tax [link]

- This tax is a known job-killer. It would be a bad idea to leave this tax in the code for a second longer than necessary. The faster we get the capital gains tax down, the faster we’ll get further growth and investment.

- 47 conservative groups support repeal of the 3.8 percent NIIT.

- Capital gains taxes have a significant negative impact on capital formation, productivity, and economic growth while raising little or even negative revenue.

Photo Credit: Photo Credits: Kevin Simmons

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