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NEW REPORT: Toxic Health Care Lawsuit Sparked by GOP Tax Giveaway Would Be Another Windfall for Wealthiest Americans, Special Interests

If GOP lawsuit succeeds, “the nation’s wealthiest taxpayers and pharmaceutical companies would benefit” while “about 25 million Americans may be left uninsured”

In 2017, Tillis andGardner both fretted about disappointing their wealthy donors after Senate Republicans failed to tear down the health care law

As a court ruling looms in the toxic Republican lawsuit to dismantle the Affordable Care Act and end pre-existing conditions protections for millions of Americans, a new report reveals that the lawsuit — like the GOP tax giveaway that “sparked” it — would be a massive windfall for the wealthiest Americans and giant drug companies if it succeeds. Every Republican Senator running for re-election voted for that 2017 tax handout.

In the aftermath of the GOP’s failed efforts in Congress to repeal the health care law, Senators Thom Tillis and Cory Gardner fretted about disappointing their wealthy donors at the NRSC — Tillis told his colleagues that “donations had fallen off a cliff” and Gardner was quoted saying that “donors are furious.”

“This report underscores once again why vulnerable Republican Senators were more worried about gutting the health care law than protecting their constituents: they didn’t want to disappoint their wealthy donors,” said DSCC spokesperson Stewart Boss. “While Republicans continue to enable efforts to attack pre-existing conditions coverage and other protections for millions of Americans, their out of touch agenda would also give billions more in breaks to the super-rich and special interests in Washington. Senate Republicans are looking out for their donors, not the hardworking families they’re supposed to represent, and voters will hold them accountable for their misplaced priorities.”

IN CASE YOU MISSED IT

CNBC: Wealthy Americans will receive billions in tax cuts if Obamacare is overturned, new report says

By Berkeley Lovelace, Jr.

November 4, 2019

Key Points:

  • Wealthy Americans stand to gain from Obamacare’s demise.
  • The rich will likely receive billions in tax cuts if the health-care law is overturned, according to a new analysis published Monday from the Center on Budget and Policy Priorities, a Washington think tank.
  • The nation’s top 0.001%, the 1,409 U.S. households with annual incomes over $53 million, would receive a combined $3.8 billion in tax cuts if the law is overturned, according to the report.
  • Most of these tax cuts would go to households with incomes over $1 million, who would receive tax cuts averaging about $46,000 apiece, according to the report.
  • The pharmaceutical industry would also benefit.
  • While the nation’s wealthiest taxpayers and pharmaceutical companies would benefit, the middle-class and poor would be at a disadvantage. About 25 million Americans may be left uninsured if the law is struck down in its entirety, including those insured through Obamacare’s Medicaid expansion.
  • “In arguing the ACA should be struck down, the administration and the state attorneys general are in effect seeking to transfer billions of dollars of income from low- and moderate-income Americans to people on the top rungs of the income ladder,” said Aviva Aron-Dine, vice president for health policy at the Center on Budget and Policy Priorities and lead author of the report.
  • A federal appeals court in New Orleans is expected to issue a decision any day now on a lower court ruling that overturned Obamacare, formally known as the Affordable Care Act, in a case known as Texas vs. the United States.

Read the full story here.

More on why Republicans “have no credibility” when it comes to protecting their constituents’ care:

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