HELENA – No wonder Greg Gianforte is “thankful” for D.C.’s disastrous health care bill. A study released today reveals that Gianforte would get a $8 million tax cut should the so-called American Health Care Act become law. That’s $800,000 each year.
Here are highlights of the study, by Tax March and the Center for American Progress Action Fund:
Gianforte will receive a nearly $800,000 annual tax cut from the health care bill:
For Greg Gianforte, based on an annualized calculation of wages, capital gains, and dividend income, that means he would receive a $772,981 tax cut every year from the repeal of NIIT and an annual $12,432 cut from HI repeal. Ultimately, Gianforte stands to receive an estimated $785,413 in tax cuts from the AHCA each year.
For everyone else, costs will skyrocket and thousands will lose coverage altogether:
Signing the AHCA into law would reverse the progress made in Montana, and result in an estimated 61,000 fewer Montanans having health insurance, increase health care costs by an average of $5,220 for individuals in Montana (including $7,280 for low-income individuals and $12,146 for older individuals) and $11,045 for families ($17,182 for low-income families and $19,924 for older families).
Gianforte’s tax cut is 15 times larger than Montana’s median household income:
The median Montana household has an income of $49,509 a year. Gianforte’s tax break from AHCA is more than 15 times larger than that. Over the course of a decade, the AHCA would be worth nearly $8 million in tax cuts to Mr. Gianforte.
Only one candidate will stand up for Montanans’ access to affordable health care:
The candidates for Montana’s At-Large seat in the House of Representatives have starkly different positions on the AHCA. Rob Quist (D) has stated outright opposition to the bill, while his opponent, Greg Gianforte (R), has shifted his stance on the bill. Gianforte has claimed he has insufficient information about the AHCA, but also told Washington lobbyists that he is ‘thankful’ the legislation is moving forward.