Who Stands To Gain Most From Health Law’s Possible Demise? Rich Would Get Billions In Tax Cuts If ACA Is Overturned
Overturning the Affordable Care Act would eliminate several taxes created to help pay for the law’s expansion, including a 0.9% Medicare tax on single Americans who earn more than $200,000 a year or couples who make $250,000. A court decision is expected soon on the constitutionality of the law.
The Rich Will Receive Billions In Tax Cuts If Obamacare Is Overturned, Report
Wealthy Americans stand to gain from Obamacare’s demise. The rich will likely receive billions in tax cuts if the health-care law is overturned, according to a new analysis published Monday from the Center on Budget and Policy Priorities, a Washington think tank. The nation’s top 0.001%, the 1,409 U.S. households with annual incomes over $53 million, would receive a combined $3.8 billion in tax cuts if the law is overturned, according to the report. (Lovelace Jr., 11/4)
In other news on the Affordable Care Act —
Medicaid Expansion Reduced Preventable Hospitalizations
With political battles continuing over Medicaid expansion, a new study found states that expanded Medicaid saw greater reductions than non-expansion states in hospital admissions, length of stay and hospital costs for conditions that can be managed with ambulatory care. States that expanded coverage to low-income adults under the Affordable Care Act saw a 3.5% reduction in annual "ambulatory-care sensitive" condition discharge rates, and a 3.1% drop in inpatient days in 2014 and 2015, according to the study published Monday in Health Affairs. (Meyer, 11/4)