GOP Bill Would Repeal Obamacare Taxes And Penalties, Keep Some Subsidies

House Speaker Paul Ryan is leading efforts to repeal and replace the Affordable Care Act.

Allison Shelley/Getty Images


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Allison Shelley/Getty Images

House Speaker Paul Ryan is leading efforts to repeal and replace the Affordable Care Act.

Allison Shelley/Getty Images

After years of waiting, it’s finally here.

The Republican plan to reshape the Affordable Care Act — what they call “repeal and replace” — kills the requirement that everyone buy health insurance by eliminating the tax penalty for those who don’t have coverage. It also makes significant changes in the financial assistance people can receive to buy a health plan.

“Our legislation transfers power from Washington back to the states,” said House Ways and Means Committee Chairman Kevin Brady, in a statement. “We dismantle Obamacare’s damaging taxes and mandates so states can deliver quality affordable options.”

The bill would offer tax credits, refundable in advance, to people with incomes below $75,000. But those credits will be lower in many cases than the subsidies now offered in the ACA.

The bill, which will go through many revisions and challenges,

Article source: http://www.npr.org/sections/health-shots/2017/03/06/518864390/gop-bill-would-repeal-obamacare-taxes-and-penalties-keep-some-subsidies?utm_medium=RSS&utm_campaign=affordablecareact

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