As the House Republicans unveiled their ambitious tax plan on Thursday, President Trump tweeted that he wants the tax bill to include the repeal of Obamacare mandate.
Wouldn’t it be great to Repeal the very unfair and unpopular Individual Mandate in ObamaCare and use those savings for further Tax Cuts…..
— Donald J. Trump (@realDonaldTrump) November 1, 2017
House tax committee Chairman Kevin Brady said he has already heard from Trump by phone twice and in person. Brady has asked the Congressional Budget Office (CBO) to assess the inclusion of the Obamacare mandate repeal.
Trump is also pressuring the Republicans to send him the bill for him to sign into law by Thanksgiving.
The 429-page tax bill called the Tax Cut and Jobs Act would be the most significant overhaul of the U.S. tax system since the 1980s and is already controversial and polarizing. If it passes, it would benefit the rich disproportionately with a significant reduction in corporate tax rate from 35 percent to 20 percent and the elimination of the estate tax.
House Speaker Paul Ryan claims a family of four would save $1,182 annually. However, the bill also repeals a personal exemption of $4,050 that taxpayers can currently claim for themselves, their spouse and any dependents.
The proposed tax bill would add an estimated $1.49 trillion to the deficit over a decade.
Senator Ron Wyden of Oregon calls this bill “a middle-class con job.”
Republicans in Congress released their trillion dollar middle class con job.
— Ron Wyden (@RonWyden) November 2, 2017
With this demand connecting healthcare and the tax bill, Trump shows his obsession with destroying President Obama’s legacy and his tendency to find ways to sabotage Republicans in Congress.