Articles Posted in TAX & PENALTIES

mitch-300x226It may take days, weeks, years, or even a decade to fully determine what the Republicans in Washington have done to the nation’s health care with the U.S. Senate’s middle-of-the-night approval of more than $1 trillion in changes to the U.S. tax code. But it will at least be big, and maybe huge.

The House and Senate still must reconcile their versions, and President Trump must agree to what lawmakers settle among themselves. So the extent of the health harms the ostensible tax bill—which many have said is really a health bill with tax cuts attached—may inflict on Americans remains up in the air, to a degree.

Millions will lose their health insurance coverage,  because the tax bill repeals Obamacare’s requirement that taxpaying citizens show they have health coverage, the so-called individual mandate. Without the mandate, consumers can wait to buy insurance until they get sick, the equivalent of buying fire insurance on your house when it’s burning down. But this means insurers have to jack up rates to offset all the gaming of the system.  It also opens the way to “skinny” or skimpy health plans that really offer little or no coverage for the sick or those in need of medical services.

ryanMembers of Congress are home in their districts for a week-long break, and many lawmakers are expected to get an earful from voters upset over many issues at the start of the Trump Administration, especially this: What the heck’s going on with health care?

Republicans have insisted for years now—counter-factually, as the evidence has amply demonstrated—that they had a cheaper, better, more inclusive alternative to the Affordable Care Act, aka Obamacare. The promised to repeal the ACA on the day they gained control of Congress and the White House. That hasn’t happened. Nor has the GOP proffered its vaunted replacement. Instead, the party had talked in recent days about an ACA repair.

But under fire from their most conservative party members, Republican leaders have thrown up what they call an outline of Trumpcare. The GOP has moved from lots of R’s—repeal, replace, and repair—to some C’s and D’s: Costly, callous, divisive, and cruel. Those are some ways their retread plan elements (dubbed “déjà vu all over again” in one report) could be described. The outline still faces major challenges, not the least of which is whether a chaotic White House and a lumpen Congress can conduct the nation’s business and enact public policy.

Patrick Malone & Associates, P.C. listed in Best Lawyers Rated by Super Lawyers Patrick A. Malone
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