McConnell Reveals Senate Tax Bill Will Include Repeal Of Obamacare Mandate

Tuesday, November 14, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
Nov 14, 2017

In what is emerging as the latest potential stumbling block for the passage of GOP tax reform, on Tuesday afternoon Senate Majority leader announced that the Senate tax bill will include language to repeal ObamaCare’s individual mandate, a move which could make passage prolematic as it could withdraw support from moderate Republicans. According to The Hill, Conservatives led by GOP Sens. Ted Cruz, Rand Paul and Tom Cotton pushed hard to include the provision, which would eliminate the federal penalty on people who do not buy health insurance.

The move, if passed, would free up an estimated $300 billion to $400 billion over the next year that could be used to pay for lowering individual and business tax rates even further.

According to McConnell, adding the individual mandate repeal would make it easier to muster 50 votes to pass the bill, although many others disagree. “We’re optimistic that inserting the individual mandate repeal would be helpful and that’s obviously the view of the Senate Finance Committee Republicans as well,” McConnell said.

Allaying concerns that the revision would lead to a dealbreaker, Senator John Thune, the Senate’s No. 3 Republican, told reporters there has been a whip count and he is confident Republicans can pass a tax bill that includes a measure to repeal the mandate.

Thune said the Alexander-Murray bill, aimed at stabilizing markets, would be brought up separately. That bill funds key payments to insurers for two years in exchange for more flexibility for states to change ObamaCare rules.

“I’m pleased the Senate Finance Committee has accepted my proposal to repeal the Obamacare individual mandate in the tax legislation,” Cotton said in a statement. “Repealing the mandate pays for more tax cuts for working families and protects them from being fined by the IRS for not being able to afford insurance that Obamacare made unaffordable in the first place. I urge the House to include the mandate repeal in their tax legislation.”

The Rest…HERE

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