Republicans could target Obamacare tax in wider tax overhaul - Brady

[Eugene]

Source: Reuters

#POLITICS
JULY 19, 2017 / 12:41 PM / 13 HOURS AGO

Exclusive: Republicans could target Obamacare tax in wider tax overhaul - Brady

David Morgan

WASHINGTON (Reuters) - Republicans will consider using planned tax reform to eliminate one of the biggest taxes in Obamacare, if the Senate fails to overturn the healthcare law, a senior Republican in the U.S. House of Representatives said on Wednesday.

Kevin Brady, the top Republican on tax policy in the House as chairman of the Ways and Means Committee, said Republicans will look at the 3.8 percent Net Investment Income Tax in discussions aimed at unveiling a tax reform plan in September. The levy is a weight on economic growth, he said in an interview with Reuters.

Efforts by Republicans to overhaul or repeal the Affordable Care Act, known as Obamacare, collapsed in the Senate on Tuesday in a major setback for Republican President Donald Trump. Given a wholesale repeal or overhaul now seems imperiled, Republicans are looking at other ways to attack a law they have vowed to overturn since it was signed by Democratic former President Barack Obama seven years ago.

Brady said tax legislation was unlikely to be able to include the repeal of other Obamacare taxes. Doing so would result in about $1 trillion in additional revenue losses over a decade, cutting into efforts to avoid adding to the federal deficit in the overall tax package, he said.

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Read more: http://www.reuters.com/article/us-usa-congress-brady-tax-exclusive-idUSKBN1A41X1

[Docreed2003]

1. The GOP mindset...if you can't kill it outright, starve it to death...

The only time I'll EVER be shocked by a GOP budget is when they actually have the guts to cut our bloated defense budget, that has had no waste, fraud, and abuse oversight since the seventies. I say that as a veteran, cause they sure as hell aren't spending that money on the average service member...nah, they'll cut those benefits for service members because they're "too generous", all the while providing corporate welfare for their overlords!