. Wyden, the Senate Finance Committee chairman, told reporters that Senate Democrats could pursue increased IRS audits on “wealthy tax cheats” to fund increased Affordable Care Act (ACA), or Obamacare, subsidies.
The Oregon Democrat contended that it would raise $120 billion over the next ten years: .@RonWyden raises the issue of increased IRS enforcement “on wealthy tax cheats,” says it will bring in $120B over a decade. But Wyden stops short of saying he wants to add it to reconciliation — John Bresnahan (@bresreports) July 26, 2022 Asked if the enhanced IRS audits would be included in a reconciliation bill, Wyden said, “We’ll see what happens.” But also when I asked specifically just now if IRS $ was in the reconciliation bill, Wyden offered a “we’ll see what happens.” https://t.co/7IznrTYfj1 — Richard Rubin (@RichardRubinDC) July 26, 2022 The enhanced Obamacare subsidies would be included in a reconciliation package that Democrats continue to craft ahead of the 2022 midterms. Democrats hope to include the subsidies along with a provision that would allow Medicare to negotiate drug prices. President Joe Biden and his congressional majority expanded subsidies under the $1.9 trillion American Rescue Plan, or Biden’s coronavirus relief plan. However, the subsidies will soon expire before the November midterm elections. If Congress fails to extend the subsidies, ACA plans could rise as much as 50 percent. Heritage Action Executive Director Jessica Anderson told Breitbart News that Democrats continue to play with Americans’ lives by hiding the true cost of the Affordable Care Act. “The Left is once again playing politics with Americans’ health care and livelihoods in an election year. This time, they are trying to buy off voters right before midterms and cover up the true cost of their failed health care policies.
The American people are already suffering from historic inflation, and the Left’s answer is to just keep pumping money into the economy,” She said. Brian Blase, a former Donald Trump healthcare expert, detailed many of the reasons why Congress should not extend the enhanced subsidies: “Papering over Obamacare’s problems with additional taxpayer dollars is exactly the wrong approach and reduces Congress’s appetite for actual reforms,” Blase said.
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