Here is the source of the above data with additional details from the current House Tax Bill, state by state.
The title is a simple question to which I am having a difficult time getting the clear answer. I am no tax expert and like most of us don’t have all day to pour over details if the minute to minute changes. We need to pay close attention to our news sources as the bill moves through committees this week. There are plans to pass it before Thanksgiving.
There has been ongoing concern regarding the Medicaid cuts coming back as a way to offset the cost of corporate tax cuts. Please stand with me and remain vigilant to prevent this from happening as these massive changes to our economy are being rushed through.
It appears the plan eliminates deductions for medical expenses, which would be a blow to older adults with high out of pocket expenses as well as families supporting people with disabilities.
If the measure of a society is how it treats its most vulnerable, we really don’t need this tax cut if it means reducing already inadequateresources allocated to frail elders and people with disabilities.
There is also a potential threat to the individual mandate of the ACA. Let’s keep a watchful eye on that too.
Please feel free to chime in with more helpful information.
November 1st started Open Enrollment for ACA plans on the Marketplace. Here is a health-care-open-enrollment link to more information: