The Tax Cuts and Jobs Act repealed the individual mandate portion of the Affordable Care Act that requires people who reject the insurance to pay a penalty of $695 or 2.5% of their income, whichever was larger. That will represent a substantial tax cut for those with incomes under $50,000. However, Obamacare is still in effect and requires employers with businesses with 50 or more full-time employees to pay for their full-time employees health insurance, regardless of the cost. This is forcing many employers to reduce the number of full-time employees or go out of business altogether. -GEG
After the Republican Tax Cuts and Jobs Act repealed Obamacare’s individual mandate, many still wonder whether Republicans can repeal Obamacare in 2018.
Here’s what’s next for Obamacare in 2018.
The Tax Cuts and Jobs Act repealed the Affordable Care Act’s individual mandate. Obamacare mandated that Americans who forgo health insurance would have to pay $695 or 2.5 percent of their income, whichever is larger. The Internal Revenue Service (IRS) found that 80 percent of those who pay the Obamacare mandate fine make less than $50,000 a year, making the mandate’s repeal a huge middle-class tax cut.
Even though Republicans repealed the individual mandate, much of the Affordable Care Act remains intact. Obamacare still requires employers with businesses with more than 50 or more full-time employees still have to provide their full-time employees health insurance, regardless of the cost to the business.
The Affordable Care Act also expanded Medicaid to virtually every American under age 65 with incomes up to 138 percent above the federal poverty level. The federal government funded 100 percent of each states’ Medicaid population from 2014 to 2016. However, the federal government will wind down the federal contribution percentage to 90 percent by 2020 and beyond, adding a significant financial burden to state governments.
The Republican Tax Cuts and Jobs Act repealed Obamacare’s individual mandate, effective in 2019. On Thanksgiving, President Donald Trump promised to return to Obamacare repeal after passing historic tax reform legislation.
Hedge funds, globally, are in a financial tail spin, and many have already blocked investors from withdrawing their money. True to form, the Federal Reserve is preparing to infuse these firms with super low-cost loans that will help to bail them out – at taxpayer expense, of course.
The Oregon-based youth advocacy group, Our Children’s Trust, filed the lawsuit in 2015 seeking an injunction ordering the government to implement a plan to phase out fossil fuel emissions and draw down atmospheric carbon dioxide emission.
Florida state lawmakers have proposed a gun control ban on assault weapons, which are defined as “semiautomatic rifles and shotguns capable of holding more than 10 rounds of ammunition at once, either in fixed or detachable magazine, or any other ammunition feeding device.”
The governor of Puerto Rico fired the island’s emergency manager, Carlos Acevedo, hours after a warehouse filled with supplies believed to be from when Hurricane Maria struck the island in September 2017.
Flynn’s attorney, Powell, says the prosecutor committed subornation of perjury, which is the crime of persuading a person to lie under oath. She says the Mueller investigation team prosecuted Flynn to support obstruction charges against President Trump.
In order to join West Virginia, the consent of Virginia’s Legislature and of a majority of the qualified voters is needed. West Virginia promised that if Virginia joins them, their firearms rights shall be protected to the fullest extent possible under their Federal and State Constitution.
5G may be a killer technology as the same frequencies and antenna-delivery systems have already been adopted by the military for use as weapons of war and crowd control. There is a race is to get the technology fully implemented before the the push back becomes too large to ignore.
Based on 20 years of observation and data, scientists are predicting that the sun will be nearly seven percent cooler and dimmer by 2050 causing a ‘mini ice age’. [The real deniers in the climate-change controversy are those who deny that global warming is a politically motivated myth.]
In addition, Secretary of State Mike Pompeo struggled to explain the threat to the US when he said, “There is no doubt that there were a series of imminent attacks that were being by plotted by Soleimani. We don’t know precisely when and we don’t know precisely where — but it was real.”
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Senator Rand Paul objects to the Republican version of ObamaCare, because federal money will be used to guarantee at least $300 billion for insurance-company profit. He also wants to stop the “refundable tax credit”, which is a subsidy by another name.
All plans to amend, repeal or replace Obamacare are based on the false idea that there is an insurance problem when the real problem is billing. Healthcare pricing is based on how much can be extracted from an individual or an insurance company, so prices fluctuate widely. People cannot shop for a better price because price comparison is prohibited. In fact, pricing is considered to be a trade secret that is protected by law.