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Lipinski Amendment Would Get Rid of the Giveaway to Health Insurance Companies and Executives in Republicans' Healthcare Bill

Congressman Dan Lipinski (IL-3) released the following statement today:

“The Republicans’ American Health Care Act (AHCA) does not help the middle class or make the healthcare system in the U.S. better, but it does have a tax giveaway for health insurance companies and their top executives.  The Republican healthcare bill repeals a provision in current law that limits how much health insurance companies can deduct from their federal taxes for executive pay.  Right now, health insurance companies can only deduct up to $500,000 of compensation per executive.  Repealing this limit means that taxpayers would lose about $400 million in taxes from insurance companies over the next ten years according to the Congressional Budget Office.  Health insurance companies have a right to decide how much they will pay their executives, but hard-working middle-class families should not be subsidizing this pay.  This is bad policy, and I have offered an amendment to strike this break from the AHCA. 

“Of course, this amendment does not fix the deep and fundamental problems with the Republicans’ healthcare bill, but it should serve as a reminder about where Congress’ priorities should be.  People from across our nation are worried about rising premiums and out-of-pocket costs that make it hard to get the care they need.  Congress must prioritize real healthcare reform and focus on protecting middle-class families, instead of granting expensive corporate giveaways.”