New Senate Tax Bill Goes After Obamacare

And in a major gimmick, many of the bill's tax breaks expire in 2025.

WASHINGTON ― Republicans in the U.S. Senate want to gut Obamacare in the latest draft of tax reform legislation they released late Tuesday. The new version of the tax bill repeals the Affordable Care Act’s requirement that all Americans either purchase health insurance or pay a penalty. “By scrapping this unpopular tax from an unworkable law, we not only ease the financial burdens already associated with the mandate, but also generate additional revenue to provide more tax relief to these ind...