⏳ Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Latest House healthcare bill includes concessions to conservatives: Politico

Published 03/06/2017, 05:41 PM
© Reuters. Applications are seen at a rally held by supporters of the Affordable Care Act in Jackson Mississippi

WASHINGTON (Reuters) - The latest version of a House Republican bill to replace Obamacare would limit who could receive tax credits to help purchase health insurance, Politico reported on Monday, in an effort to secure the support of the chamber's conservative wing.

Congressional Republicans and President Donald Trump have repeatedly promised to repeal and replace former Democratic President Barack Obama's signature domestic policy achievement but have publicly disagreed about the best way to do so. The House of Representatives is expected to unveil its legislation soon.

Under a Feb. 10 draft of the legislation made available to several news outlets, Republicans proposed offering an age-based refundable tax credit regardless of income level. That was resisted by conservatives who called it another entitlement program. Critics also said extremely wealthy people would receive the credit even though they do not need it.

In the most recent version of the bill, the tax credits would only be available to those within certain income levels, according to Politico. They would start to phase out for individuals earning $75,000 and households earning $150,000, and would be unavailable for individuals who earn more than $215,000, Politico reported.

Republicans had also initially proposed capping exemptions on employer-provided health coverage, a provision that drew the ire of some conservatives who said the bill would remove Obamacare's taxes only to replace it with another.

According to Politico, the latest version of the bill would not include a cap. The bill also delays repealing several of Obamacare's taxes until 2018, a year later than initially proposed, Politico reported.

© Reuters. Applications are seen at a rally held by supporters of the Affordable Care Act in Jackson Mississippi

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.