Trump open to dropping healthcare provision in Senate tax bill - aide | Reuters

WASHINGTON (Reuters) - U.S. President Donald Trump would not insist on including repeal of an Obama-era health insurance mandate in a bill intended to enact the biggest overhaul of the tax code since the 1980s, a senior White House aide said on Sunday.

Reuters November 19, 2017 23:45:13 IST
Trump open to dropping healthcare provision in Senate tax bill - aide | Reuters

Trump open to dropping healthcare provision in Senate tax bill  aide  ReutersWASHINGTON (Reuters) - U.S. President Donald Trump would not insist on including repeal of an Obama-era health insurance mandate in a bill intended to enact the biggest overhaul of the tax code since the 1980s, a senior White House aide said on Sunday. U.S. President Donald Trump examines his tie as he walks outside the White House between sessions greeting members of Championship NCAA athletic teams in Washington, U.S., November 17, 2017. REUTERS/Joshua RobertsThe version of tax legislation put forward by Senate Republican leaders would remove a requirement in former President Barack Obama’s signature healthcare law that taxes Americans who decline to buy health insurance. “If we can repeal part of Obamacare as part of a tax bill ... that can pass, that’s great,” White House budget director Mick Mulvaney said on CNN’s “State of the Union” on Sunday. “If it becomes an impediment to getting the best tax bill we can, then we are O.K. with taking it out,” Mulvaney said. Getting rid of the so-called individual mandate is one of Republican Trump’s main goals. He campaigned for president last year on a promise to repeal and replace his Democratic predecessor’s 2010 Affordable Care Act, commonly called Obamacare, but Congress has so far not agreed on how to do that. Another top Trump administration official, Treasury Secretary Steve Mnuchin, said the individual mandate was “not a bargaining chip” but said the White House would work with the Senate to get a tax bill passed this year. “This is all about getting this passed in the Senate. This isn’t a bargaining chip,” Mnuchin said on “Fox News Sunday.” “The president thinks we should get rid of it and I think we should get rid of it.” Mnuchin said the objective “right now” was to keep repeal of the mandate in the bill. “We are going to work with the Senate as we go through this. We are going got get something to the president to sign this year,” he said. The House of Representatives last week passed its tax bill. Republicans, who control both chambers of Congress, consider a tax bill critical to their party’s prospects in the 2018 U.S. congressional elections. Trump had urged lawmakers to add repeal of the mandate to the tax bill, writing on Twitter last week that the provision was “unfair” and “highly unpopular.” The next day, Senate Majority Leader Mitch McConnell inserted a proposed individual mandate repeal in the Senate plan. Republican senators who have been critical of the plan said that some middle-income taxpayers could see any benefits of the tax cuts wiped out by higher health insurance premiums if the repeal of the Affordable Care Act’s mandate goes through. Among them was Senator Susan Collins, one of a handful of Republicans who voted in July to block a broader Republican attempt to dismantle Obamacare. Collins has emerged as a potentially pivotal lawmaker in the tax debate, along with Republican senators John McCain, Lisa Murkowski and Ron Johnson, all of whom are also on the fence about it.

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Oil settles up after hitting 15-month highs on demand prospects
Business

Oil settles up after hitting 15-month highs on demand prospects

By Laura Sanicola NEW YORK (Reuters) - Oil prices settled higher on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output. Brent crude futures for August settled up 93 cents, or 1.3%, to $70.25 a barrel after hitting $71 earlier in the session - its highest intra-day price since March 8. U.S.

Wall St ends little changed; energy gains, health sags
Business

Wall St ends little changed; energy gains, health sags

By Lewis Krauskopf, Shashank Nayar and Medha Singh (Reuters) - Wall Street's main indexes ended little changed on Tuesday, with gains in energy and financial shares countering declines in healthcare, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation. The S&P 500 financial sector hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector

Zoom forecasts upbeat revenue on remote work, e-learning boost
Business

Zoom forecasts upbeat revenue on remote work, e-learning boost

(Reuters) - Zoom Video Communications Inc on Tuesday forecast better-than-expected revenue for the current quarter, after beating quarterly estimates, as the video-conferencing platform expects steady growth from remote work and online learning. Zoom became a household name during the pandemic as businesses and schools switched to its video conferencing platform for virtual classes, office meetings and social catch-ups