A Primer on the Upcoming Senate Healthcare Bill: Senate Republicans continue to draft a health care bill. Here are a few key planks of the evolving legislation.
1. Increased tax credits for low-income and older Americans
Sen. John Thune (R-SD) will draft a tax credit scheme that would offer more generous tax credits to low-income and older Americans compared to the House-passed American Health Care Act (AHCA). Thune hopes to send several different plans to the Congressional Budget Office (CBO) to figure out the best way to structure the tax credits.
The tax credits offered by the AHCA and the Senate bill would allow Americans to purchase health insurance on the individual market. The AHCA’s tax credits ranged from $2,000 to $4,000 based on age, not income. Thune’s plan would tie the tax credits to income and age and would phase out for the credits for wealthier Americans, as well as provide more generous health care tax credits for older Americans.
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