US Health Bill Cuts Business Taxes, Lessens Coverage

The US Senate’s health-care bill has cut billions of dollars worth of taxes from large businesses and high-net worth households in addition to repealing taxes for capital gains. These tax-related provisions in the said bill are highly similar to the House version which was passed last May, with the bill implementing tax repeals and lessening health coverage instead of the other way around. Republican Senator Pat Toomey stressed the importance of cutting down these tax as soon as possible, as these taxes are allegedly doing damage to the country’s economy. These tax cuts are exclusively applicable for households with more than $200,000 of income per annum, as well as married couples making more than $250,000 per annum.