An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018
Kevin BradyThis bill reduces taxes
This bill reduces tax rates for individuals and corporations.
The tax reductions for corporations are permanent.
The tax reductions for individuals are temporary. Tax rates for most individuals will increase over the next 10 years.
The Obamacare mandate will end after 2018
The bill eliminates the Patient Protection and Affordable Care Act's (Obamacare) requirement to purchase health coverage.
The law doesn't exactly repeal the mandate to purchase health coverage. It merely reduces the penalty for not having insurance to zero.
This part of the law takes effect in 2019, meaning that those with incomes greater than the Federal Poverty Level still are required to have coverage in 2018.
More to come
We are working on describing the major details of this bill