Democratic Party of Georgia

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GA Republican Tom Price: Trump’s Tax Law Will Increase America’s Health Insurance Premiums

FOR IMMEDIATE RELEASE: Wednesday, May 2, 2018

Contact: Eric Gray

Communications Director

Democratic Party of Georgia

(678) 278-2016 ext. 302

ATLANTA – Former Secretary of Health and Human Services and Georgia Congressman Tom Price stated that President Donald Trump’s new tax legislation will likely “drive up the cost” of health insurance for many Americans due to the elimination of the individual mandate.

But just one year ago on ABC-TV’s This Week, Price argued that the elimination of the individual mandate would lower health insurance premiums, not raise them.

“Price’s complete about-face on health policy should come as no surprise,” said DuBose Porter, Democratic Party of Georgia Chair. “Since he’s no longer in the Trump administration, he’s now free to say what Democrats have been saying all along- the Affordable Care Act was lowering the increasing costs of health insurance, and President Trump’s plan is driving these costs up again.”

Price’s recent comments are in line with the non-partisan Congressional Budget Office’s estimate from last year. In November, the CBO predicted that average premiums in the healthcare exchanges would rise by about 10% in most years over the next decade under Trump’s then-tax bill. Georgia’s Republican Congress members all voted for the bill, which became law in December.

“Republicans have insisted that they would repeal and replace Obamacare. But they’ve only repealed parts of the bill and offered no replacements at all. This piecemeal approach to healthcare is the same approach that put the American people in this mess,” said Porter.

“If Trump’s former HHS Secretary can figure out that President Trump’s path leads to higher costs, Georgia Republicans should too.”

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Background

“Trump’s Former Health Secretary: Americans Will Pay More Because GOP Weakened Obamacare”, Washington Post, May 1 2018.

Tom Price “The individual mandate is …driving up the cost,” ABC-TV’s This Week via YouTube, July 30, 2017.

“Repealing the Individual Health Insurance Mandate: An Updated Estimate”, Congressional Budget Office (PDF file), November 2017.

“How Each House Member Voted on the Tax Bill”, New York Times, December 19, 2017.

Republicans Prioritize Corporate Tax Giveaways at Expense of Working Families in Georgia

Release:  Tuesday, December 19, 2017      

Atlanta, GA – Republicans yet again put millionaires, billionaires, and giant corporations over American families. The final Republican tax bill provides even bigger tax breaks to the very wealthiest, at the expense of children and the middle-class in Georgia.

“If Republicans are serious about real tax reform, they should prioritize alleviating the financial burdens working Georgians face each and every day. When we’re facing income inequality on such an unprecedented scale and corporations are hauling in record profits, Democrats believe it is well past time to invest in our economy’s backbone—the middle class.”  – DuBose Porter, Chair

Here are just a few of the ways Republicans are hurting Georgia families:

  • Republicans are putting health insurance out of reach for 13 million more Americans: by repealing the individual mandate, Republicans will force double-digit increases to premiums, hurting millions of families across the country.
  • Instead of reauthorizing CHIP, which provides health care for 232,050 Georgia kids, the GOP has prioritized cutting the estate tax for the richest 0.1% families in Georgia.
  • Millions of Americans will see permanent tax hikes to pay for permanent tax cuts for the wealthy and corporations. Families will be bumped into higher tax brackets more quickly, their Earned Income Tax Credit and Child Tax Credits will be smaller every year, and all tax benefits for families in the bill quickly expire.
  • The changes Republicans made to the Child Tax Credit will do nothing for children from low-income and minimum wage working families – including 422,000 children in Georgia– who will still only get $75 at most. Meanwhile, wealthy families will receive the full benefit.
  • With all of its tax cuts for billionaires and wealthy corporations, the Republican tax bill will cause the deficit to immediately skyrocket and add nearly $1.5 trillion to it over the next decade. Republicans want to use this unfortunate fact as an excuse to cut Medicaid, Medicare, education, food stamps, and other critical programs families with children rely on.
  • The Republican tax scam will kill jobs by giving giant corporations an even bigger incentive to move jobs and profits overseas, putting small businesses on Main Street at an even bigger disadvantage.
  • Cities and towns may be forced to cut investments in schools, drug treatment centers, police forces, and other state and local services thanks to the Republican tax scam.
  • The last-minute deals Republicans struck at the urging of special interest lobbyists behind closed doors include giant new loopholes for millionaire real estate developers like Donald Trump — but little to no tax relief for middle-class families.

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Devastating Impact of GOP Tax Plan in Georgia

Release:  Thursday, November 16, 2017   

Atlanta, GA – Today, House Republicans will vote on a bill to increase taxes on middle class families and provide massive giveaways to billionaires and wealthy corporations. While Senate Republicans debate their tax plan in committee, the latest edition calls for permanent tax break for the richest, paid for by cutting health care and other programs Social Security, Medicare, Medicaid, and education that working Georgia families rely on every day.

“The GOP is blatantly misleading Georgians about their tax plan. This plan amounts to nothing more than a stimulus program for millionaires and billionaires. The GOP tax plan is full of hidden hits to middle-class Georgia families by making makes drastic cuts to Social Security, Medicare, Medicaid, education, and other programs Georgians rely on every day, just to pay for permanent tax cuts for the wealthy.” – DuBose Porter, Chair

The House Republican tax scam hurts teachers in Georgia by repealing a tax credit for teachers who buy their own school supplies.

College students in Georgia will also be hurt, because the House tax scam makes student loans more expensive. 312,697 graduates in Georgia take advantage of the student loan interest deduction House Republicans want to eliminate, saving $1,077 on average. – Center for American Progress

Georgia’s seniors will find it harder to save for retirement or cover their medical bills.
In fact, the House GOP tax scam would take away all Georgians’ ability to deduct their medical expenses. 312,604 Georgia residents deducted their medical expenses in 2014, saving $8,394 on average. – Center for American Progress

The House Republican tax bill could also force $25 billion in automatic cuts to Medicare next year. More than 1,519,461 Georgians who rely on Medicare could be at risk. – Kaiser Family Foundation

Workers in Georgia would be hurt by the corporate tax giveaway. The Republican tax plan incentivizes large companies to move jobs overseas by giving them a 0% rate on most foreign profits. While big corporations take advantage of this loophole, small businesses on Main Street will find it harder to compete.

The Republican tax scam threatens to take the state and local tax deduction (SALT) away from tens of millions of households nationwide. The deduction ensures that Americans are not taxed twice on the same income. In Georgia, 1,030,000 residents would no longer be able to use the state and local deduction to save hard-earned money on their federal tax returns under the House tax scam. – Institution on Taxation and Economic Policy

Distressed and rural communities could lose an important program that funds hundreds of hospitals, daycare facilities, alternative energy projects, and small businesses. The House GOP plan ends the New Market Tax Credits program, which has spurred over $600,000,000 in community investments in Georgia and created over 6,042 full-time jobs since 2003. – U.S. Congress Joint Economic Committee

Clean and renewable energy businesses looking to invest and build in Georgia would be at a disadvantage under the House tax plan. The bill would phase out popular tax credits for wind and solar energy that renewable and natural energy industries in Georgia rely on, making it more difficult for Georgia businesses to qualify for the construction tax credits.

Georgians recovering from a natural disaster, such as a flood, hurricane, tornado, or fire would be at a disadvantage, because the House Republican tax bill eliminates a critical infrastructure financing measure designed to help states rebuild after sudden events.

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