July 7, 2017
Conservative groups are warning GOP senators against keeping an ObamaCare tax on investment income in their healthcare bill, an idea that has gained some traction among lawmakers.
GOP lawmakers have floated keeping ObamaCare’s 3.8-percent net investment income tax (NIIT) to help pay for more generous healthcare subsidies for low-income people. Democrats criticized an earlier version of the Senate’s ObamaCare repeal bill for eliminating the tax because it generally applies to high earners.
But prominent conservatives argue Democrats will criticize the bill regardless of what happens with the tax. They say the tax is harmful to economic growth and should be repealed.
“This tax, just like any tax increase, is an anathema to conservatives as it suppresses economic growth and opportunity throughout our nation,” Club for Growth President David McIntosh said in a statement Wednesday. “Under no circumstances should the NIIT be included in any forthcoming Republican ‘repeal’ bill.”
This article was posted: Friday, July 7, 2017 at 8:34 am