Senate Finance Committee Chairman Orrin G. Hatch (R-Utah) and Sen. Sherrod Brown (D-Ohio) got a tense exchange during the Senate Finance Committee's markup of the GOP tax bill on Nov. 16. By 2019, Americans earning less than $30,000 a year would be worse off under the Senate bill, CBO found. The Senate Republican tax bill eliminates the requirement that almost all Americans purchase health insurance or else pay a penalty. The credits and subsidies they received to help them buy health insurance were typically sent directly from the government to the insurance company. But that changes in 2027 because the Senate GOP bill currently allows the individual tax cuts to expire in 2026.

Source: Washington Post November 27, 2017 02:08 UTC