clear
Friday November 24th, 2017 4:12AM

The Latest: Budget office warns of uninsured Americans

By The Associated Press
Related Articles
  Contact Editor

WASHINGTON (AP) — The Latest on Republican tax overhaul legislation (all times local):

6 p.m.

Congress' budget experts are projecting that repealing the requirement that people buy health coverage would mean 4 million additional uninsured people by 2019 and 13 million more by 2027.

That's slightly fewer than the nonpartisan Congressional Budget Office estimated last year.

House Republicans have not ruled out annulling the so-called individual mandate as part of their tax bill.

The budget office says repealing the requirement would save the government $338 billion over a decade. Republicans could use that money to help pay for their tax cuts.

But Republicans, including many in the Senate, have hesitated because bringing health issues into the tax bill would complicate its passage. Besides more uninsured, the budget office says repeal would cause premiums for individual policies to rise around 10 percent annually for several years.

___

2:35 p.m.

House Republicans have rejected Democratic proposals to restore tax benefits for student borrowers, people with significant medical expenses, homeowners and teachers to the GOP tax overhaul bill.

The tax-writing Ways and Means Committee voted along party lines on Wednesday against a battery of amendments.

The proposed elimination of the deduction for medical expenses not covered by insurance is especially controversial. The deduction has helped offset costs including nursing home care, laser eye surgery and travel for a second opinion on a rare cancer.

The GOP-led panel hopes to complete the tax overhaul legislation no later than Thursday.

____

12:13 p.m.

A new government analysis of the House GOP tax bill says its true costs to the nation's debt are at least $259 billion greater over the coming decade.

That's because of the interest costs the government has to absorb to borrow more money to keep the government running. That puts the debt cost of the measure at $1.7 trillion over 10 years.

The Congressional Budget Office study actually understates the measure's true cost since it's based on last week's version of the bill. An amendment added by Ways and Means Committee Republicans on Monday added $161 billion to the cost of the bill, mostly by watering down an international tax provision.

__

11:05 a.m.

House Speaker Paul Ryan says the GOP drubbing in Tuesday night's off-year elections "just puts more pressure on making sure we follow through" on the party's drive to overhaul the tax code.

The Wisconsin Republican, speaking at an event held by the Washington Examiner, added that the GOP tax bill would "bear fruit politically, but most importantly it's going to help people."

He spoke hours after Republicans lost gubernatorial races in Virginia and New Jersey by large margins in off-year elections that appear to be a bad omen for GOP chances in next year's midterms.

The tax rewrite effort has assumed even greater significance in the wake of the GOP failure to repeal the Obama health care law.

____

10:00 a.m.

Congress' nonpartisan budgetary analysts say ending the requirement that most people buy health insurance would save less money than was estimated earlier.

The Congressional Budget Office says repealing the so-called individual mandate would save $338 billion over a decade. The office had estimated $416 billion in savings earlier this year.

Republicans have said they're considering repealing the individual mandate in their tax bill. The savings would give them more room to cut other taxes in their legislation. Wednesday's smaller budget office estimate means they'd have less money to play with.

President Donald Trump wants to include the repeal in tax legislation. Doing so would complicate the tax bill's passage because of GOP divisions over health care, and so far the repeal is not in the House or Senate versions.

____

3:45 a.m.

House Republicans have blocked Democrats' efforts to get bigger tax benefits for the cost of raising or adopting children.

As the House's tax-writing committee feverishly sprints toward a completed bill by week's end, the Senate's tax bill is starting to take shape. That version is expected to completely repeal the federal deduction for state and local taxes but retain the medical expense deduction.

The House GOP plan calls for repealing the adoption tax credit. One of the Democratic proposals defeated Tuesday would have restored that credit.

Another defeated Democratic amendment would have added a $3,600 credit for families with children under age 6.

___

This corrects an earlier version to say that Wednesday's CBO estimate of uninsured people is slightly less, not more, than the office projected last year.

  • Associated Categories: Associated Press (AP), AP Online Headlines - Washington, AP Online Congress News, AP Business, AP Business - Personal Finance
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Christopher Plummer to replace Kevin Spacey in Getty film
Kevin Spacey is getting cut out of Ridley Scott's finished film "All the Money in the World" and replaced by Christopher Plummer
10:10PM ( 4 minutes ago )
Glen Campbell, Troy Gentry honored at CMAs Awards
Glen Campbell, who died in August, was remembered at the Country Music Association Awards during a touching performance of "Wichita Lineman" by Little Big Town and Jimmy Webb, who wrote the song
10:01PM ( 12 minutes ago )
US tightens travel rules to Cuba, blacklists many businesses
The Trump administration is imposing travel and commerce restrictions on Cuba that will make it harder for Americans to visit the island nation
9:42PM ( 32 minutes ago )
Associated Press (AP)
The Latest: Trump receives elaborate welcome in China
President Donald Trump's welcome in China included jumping children and the playing of the U.S. national anthem.
8:42PM ( 1 hour ago )
US Navy to run rare 3-carrier military exercise in Pacific
The U.S. Navy says it will launch a rare military exercise involving three aircraft carrier strike groups in the western Pacific
7:48PM ( 2 hours ago )
Trump administration officials meet GOP senators on tax bill
Top administration officials have met privately with Republican lawmakers as GOP senators put finishing touches on their tax bill
7:36PM ( 2 hours ago )
AP Online Headlines - Washington
The Latest: Budget office warns of more uninsured Americans
Congress' budget experts are projecting that repealing the requirement that people buy health coverage would mean 4 million additional uninsured people by 2019 and 13 million more by 2027
6:05PM ( 4 hours ago )
Gleeful Democrats see political wave; GOP says not so fast
Democrats celebrate their election wins _ and immediately turn their attention to next year and hopes for taking control of the U.S. House.
5:48PM ( 4 hours ago )
Minneapolis elects 2 black transgender City Council members
Minneapolis elects 2 black transgender representatives to its City Council, adding to what advocacy groups call a banner election for transgender people in public office
5:41PM ( 4 hours ago )
AP Online Congress News
Trump isolationism allows China to fill Southeast Asia void
As President Donald Trump steers his administration's focus inward, China has stepped into what many see as a U.S.-sized void left behind in Southeast Asia
8:13PM ( 2 hours ago )
China's largest online retailer to buy Montana beef
China's largest online retailer has signed a deal with the Montana Stockgrowers Association to buy $200 million worth of Montana beef over the next three years and to build a $100 million slaughterhouse in the state
8:07PM ( 2 hours ago )
10 Things to Know for Thursday
Among 10 Things to Know: Democrats find inspiration in wins in governors' races in Virginia, New Jersey; trade, North Korea top agenda for Trump's visit to China; experimental gene therapy credited for boy's remarkable recovery.
7:57PM ( 2 hours ago )
AP Business
Ryan: Election losses pressure GOP to deliver on taxes
House Speaker Paul Ryan says the Republican drubbing in Tuesday night's elections "just puts more pressure on making sure we follow through" on the party's drive to overhaul the tax code
3:46PM ( 6 hours ago )
The Latest: GOP nixes Dem proposals for students, others
House Republicans have rejected Democratic proposals to restore tax benefits for student borrowers, people with significant medical expenses, homeowners and teachers to the GOP tax overhaul bill
2:47PM ( 7 hours ago )
Ryan: Election losses pressures GOP to deliver on taxes
House Republicans have blocked Democrats' efforts to get bigger tax benefits for parents' cost of raising or adopting children. Meanwhile the Senate's tax bill is starting to take shape.
1:54PM ( 8 hours ago )
AP Business - Personal Finance
Christopher Plummer to replace Kevin Spacey in Getty film
Kevin Spacey is getting cut out of Ridley Scott's finished film "All the Money in the World" and replaced by Christopher Plummer
10:10PM ( 4 minutes ago )
Glen Campbell, Troy Gentry honored at CMAs Awards
Glen Campbell, who died in August, was remembered at the Country Music Association Awards during a touching performance of "Wichita Lineman" by Little Big Town and Jimmy Webb, who wrote the song
10:01PM ( 13 minutes ago )
US tightens travel rules to Cuba, blacklists many businesses
The Trump administration is imposing travel and commerce restrictions on Cuba that will make it harder for Americans to visit the island nation
9:42PM ( 32 minutes ago )
Carnage at small-town Texas church claimed 8 children
Carnage at small-town Texas church claimed 8 children, most since Sandy Hook
9:37PM ( 37 minutes ago )
Authorities review video of small-town Texas church attack
Authorities review video from inside small-town Texas church attacked by gunman
9:28PM ( 46 minutes ago )