When the establishment Republicans in the Senate defied the will of voters and President Donald Trump to kill Obamacare repeal, they also paved the way for a holdover Obama tax hike to go into effect in January 2018.
Hidden in the thousands of pages of the Affordable Care Act was a little-known tax called the Obamacare Health Insurance Tax (HIT). This direct tax will be on American’s health insurance premiums, costing American families and small businesses billions of dollars.
Barack Obama, as he frequently did when advancing unpopular policies, set this bomb to go off after he was out of office.
What are Republicans in congressional leadership doing about it?
Texas Republican Sen. Ted Cruz sounded the alarm on the health insurance tax, begging his colleagues to keep fighting: “GOP can’t give up on [their] promise to #RepealAndPromise, including #Obamacare’s taxes increasing premiums and killing jobs.”
— Senator Ted Cruz (@SenTedCruz) August 8, 2017
Cruz has taken on these Obamacare taxes as even more impetus to address this issue.
The champion of killing tax hikes, President of Americans for Tax Reform Grover Norquist, called the HIT “devasting” and warned that it “is the only Obamacare tax that will go into effect next year, and it will have a damaging impact if it does.”
A study by Oliver Wyman warned that this will be a $14.3 billion tax hike that hurts workers, seniors, and young people the most. While Trump is working on giving Americans tax relief, Obama is still managing to raise Americans’ taxes while Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan stand by and do nothing.
President Trump is not giving up on repealing Obamacare and he is not giving up on ending this devasting tax hike. The same cannot be said of McConnell and Ryan and the establishment Republicans who would rather keep Obamacare taxes, block wall funding, ship jobs overseas, and allow Obama appointees continue to run our country into the ground.
If this is not dealt with by the end of the year, there will be another tax hike courtesy of the GOP Congress.
Stay tuned for more.
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