2017 Tax Bill
In late December 2017, the President signed the Republican tax overhaul, an effective $1.5 trillion tax cut to benefit the richest 1% income earners and the wealthiest corporations. There is significant concern that the tax cuts will create larger than projected deficits in federal spending that will force the federal government to cut Medicare (capped at 4% totaling $25 billion) and other mandatory federal programs subject to sequestration, according to PAYGO rules. An unprojected deficit increase could eventually lead to Congressional action to cut Medicaid, Social Security and Supplemental Nutrition Assistance Program (SNAP), which are all protected from automatic sequestration. Click here to see the impact of the tax bill by state.
The tax bill also repeals the Affordable Care Act’s individual mandate.
- The CBO projects 13 million people will lose health coverage and the average premiums will rise by 10% as the risk pool grows sicker, which will cause uncertainty and instability in the individual health insurance market.
- Impact of the individual mandate repeal by Congressional District – See it here.
- Read how the tax bill might affect health care by threatening Medicaid funds.
Add your Medi-Cal story to the Fight for Medi-Cal campaign, launched by Alameda County Supervisor Wilma Chan. One of the most valuable ways you can take part is by telling your personal stories of how Medi-Cal allows you, a loved one or friend to contribute to your community. How did Medi-Cal help you become work-ready or keep you healthy to stay on the job or contribute in other ways? Click here to get started.