The American Health Care Act (HR 1628)
passed by the House today reduces taxes on the American people by over $1
trillion. The bill abolishes the following taxes imposed by Obama and the
Democrat party in 2010 as part of Obamacare:
-Abolishes the Obamacare Individual Mandate Tax which
hits 8 million Americans each year.
-Abolishes the Obamacare Employer Mandate Tax. Together
with repeal of the Individual Mandate Tax repeal this is a $270 billion tax
cut.
-Abolishes Obamacare’s Medicine Cabinet Tax which
hits 20 million Americans with Health Savings Accounts and 30 million Americans
with Flexible Spending Accounts. This is a $6 billion tax cut.
-Abolishes Obamacare’s Flexible Spending Account
tax on 30 million Americans. This is a $20 billion tax cut.
-Abolishes Obamacare’s Chronic Care Tax on
10 million Americans with high out of pocket medical expenses. This is a $126
billion tax cut.
-Abolishes Obamacare’s HSA withdrawal tax. This
is a $100 million tax cut.
-Abolishes Obamacare’s 10% excise tax on
small businesses with indoor tanning services. This is a $600 million tax cut.
-Abolishes the Obamacare health insurance tax. This
is a $145 billion tax cut.
-Abolishes the Obamacare 3.8% surtax on
investment income. This is a $172 billion tax cut.
-Abolishes the Obamacare medical device tax. This
is a $20 billion tax cut.
-Abolishes the Obamacare tax on prescription
medicine. This is a $28 billion tax cut.
-Abolishes the Obamacare tax on retiree prescription
drug coverage. This is a $2 billion tax cut.
As a presidential
candidate in 2008, Barack Obama had promised
repeatedly that he would not raise any tax on any American
earning less than $250,000 per year. He broke the promise when he signed
Obamacare. With the passage of the House GOP bill, tens of millions of middle
income Americans will get tax relief from Obamacare's long list of tax hikes.
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