RELEASE: New 50-State Analysis Shows Tax Cuts to Millionaires Under House-passed AHCA Bill
Washington, D.C. — The Center for American Progress Action Fund released a new state-by-state analysis showing how the Republican health care plan will provide massive tax cuts to wealthy American households while stripping health care from more than 20 million Americans.
This analysis compares the number of people in each state who will lose health insurance coverage if the House-passed American Health Care Act (AHCA) becomes law with the number of households earning more than $1,000,000 in annual adjusted gross income who will benefit if proposals to eliminate the Net Investment Income Tax (NIIT)—a tax on combined capital gain, dividend, and interest income applicable to individuals making more than $200,000 or couples filing jointly making more than $250,000 in adjusted gross income—succeed.
“House Republicans are showing their hand and who they are beholden to with this egregious tax cut,” said Alex Rowell, research associate with the Economic Policy team at CAP Action. “Eliminating the NIIT at the expense of Americans’ health care is a gift to the top 1 percent.”
Ryan Erickson, associate director of economic campaigns at CAP Action, added, “People in Appalachia, the Deep South, and the Rust Belt depend on the Affordable Care Act. Congress can’t support this bill while also championing the well-being of Americans.”
Ninety percent of the benefits from ending the NIIT, which is paid for by eliminating health insurance coverage for millions of low- and moderate-income Americans, will go to the top one percent of households.
To see the full 50-state breakdown, click here.
For more information or to speak to an expert, please contact Terrence Clark at firstname.lastname@example.org or 202.741.6251.