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Trumpcare analysis: 344,000 will lose coverage in Washington, while wealthy get $62K tax cut
Rep. Cathy McMorris Rodgers (R-5th) was the only member of Congress from either party in Washington state who voted for the legislation, which narrowly passed the House 217-213. Senate Republicans have been secretly negotiating their version of the same bill, which they have yet to make public, but plan to vote upon as soon as next week.
Republican health care plans, including the House-passed American Health Care Act (AHCA), would repeal taxes on the wealthy, including the Net Investment Income Tax (NIIT) — a tax on combined capital gain, dividend, and interest income applicable to individuals making more than $200,000 or couples filing jointly making more than $250,000 in adjusted gross income. This tax cut is paid for by eliminating health insurance coverage for millions of low- and moderate-income Americans. Approximately 90 percent of the benefit of repealing this tax goes to the top 1 percent of households.
Below is a table that shows estimates of the average tax cut for households earning more than $1,000,000 in annual adjusted gross income by state if proposals to eliminate the NIIT succeed.