The Senate Tax Reform plan will repeal Obamacare’s individual mandate.
Senate Republicans have approved the repeal of ObamaCare’s individual mandate as part of their tax-cut bill, a major step toward ending an unpopular part of the health-care law.
“Families ought to be able to make decisions about what they want to buy and what works for them — not the government,” Sen. John Barrasso (R-Wyo.) said, hailing the accomplishment.
“I believe if people don’t want to buy the ObamaCare insurance, they shouldn’t have to pay a tax penalty to the IRS.”
The Senate tax bill must still be reconciled with House legislation that does not include the mandate’s repeal. But that is unlikely to be a major issue, given support in the GOP conference for repealing the mandate.
This is a huge part that must be put in the final plan. As we reported before the individual mandate isn’t just something fueling Obamacare but it is also affecting the pockets of the people that need it the most. 80% of people who pay the Mandate make $50,000 dollars or less.
More from The Hill:
Repealing the mandate also saves $300 billion over ten years in subsidies that otherwise would have been spent on consumers, according to the Congressional Budget Office, providing savings for the tax cuts.
The CBO estimates that 13 million fewer people will have health insurance over the next decade without the mandate, and it projects that premiums will rise 10 percent. But it also projects markets will remain stable in “almost all areas of the country.”