Center for American Progress Action

RELEASE: Premium Hikes Larger than Middle-Class Tax Cuts Show the Costs of Corruption
Press Release

RELEASE: Premium Hikes Larger than Middle-Class Tax Cuts Show the Costs of Corruption

Washington, D.C. — Today, the Center for American Progress Action Fund released a new state-by-state analysis comparing the meager benefits of the tax bill for middle-class families with the impact of health care sabotage used to pay for the legislation.

The analysis finds nationally that, next year, marketplace sabotage will increase benchmark plan premiums by $1,990 for a family of four purchasing health insurance on the individual marketplace, on average. That compares to a $680 average tax cut for the working- and middle-class families in the bottom 80 percent of the income distribution.

This marketplace sabotage helps pay for the enormous $55,190 tax cut for the average family in the top 1 percent.

“Nothing captures the Congressional Republican culture of corruption better than the massive tax giveaway to their wealthy donors, multinational corporations, and themselves, all paid for by the rest of us,” said Neera Tanden, president and CEO of the Center for American Progress Action Fund. “Now we know the tax plan has led to skyrocketing health care premiums. American families have hated the tax bill from the beginning, but as new insurance rates come out, they are seeing the true costs to themselves for the first time.”

Read the analysis: Costs of Corruption: Tax Bill Leads to Higher Health Premiums and Big Tax Cuts for the Rich by Alex Rowell and Seth Hanlon

For more on this topic or to speak with an expert, contact Jesse Lee at jlee.af@americanprogressaction.org.