Republicans’ Tax Plan A Mixed Bag For Health Care

The Associated Press: GOP Tax Plan May Offer Little Aid For Many In Middle Class
House Republicans have stressed that the tax plan they unveiled Thursday is tailored to benefit America's middle class. Just how much it would remains uncertain based on the details that have been provided so far. What is clear is that many of the benefits for the middle class could dwindle over time, even while companies and wealthy individuals could enjoy lasting tax advantages. (Boak, 11/2)

The New York Times: Who Wins And Who Loses From The Republican Tax Plan
Under the Republican plan, the deduction for medical expenses would be eliminated. This currently applies to taxpayers, spouses or other dependents with health expenses that exceed a tenth of the taxpayer’s income. AARP, which advocates for retirees, said that they strongly opposed the repeal of the deduction and said that doing so would impose a “health tax” on the oldest and sickest Americans. (Rappeport, 11/2)

Stat: GOP Tax Plan Would End Student Loan Deduction Used By Young Doctors
Newly minted doctors and other health care workers may lose a critical tax deduction under the tax code overhaul House Republican leaders unveiled Thursday. The proposal repeals the student loan interest deduction — a policy that helped more than 12 million Americans who racked up education loans save up to $2,500 on their tax bills in 2015. The popular policy doesn’t require taxpayers to itemize their deductions to claim it — instead, it’s available to anyone paying interest on either private or public student loans who makes less than $80,000 in a year. (Mershon, 11/2)

CQ: House Bill Affects Medical Expense, Drug Industry Tax Breaks
The House Republican tax proposal would repeal a tax credit meant to spur research spending on treatment for rare diseases. The tax bill (HR 1) as released Thursday, would repeal the orphan drug tax credit beginning in 2018. Drug manufacturers currently can claim a 50 percent tax credit on some costs of clinical research and testing of treatments for certain rare medical conditions under the 1983 Orphan Drug Act. (McIntire, 11/2)

Modern Healthcare: House GOP Tax Cut Bill Has Pluses And Pitfalls For Healthcare Stakeholders 
Healthcare companies, executives and professionals could enjoy lower business and personal taxes while facing reduced revenue due to Medicare and Medicaid cuts that may be used to pay for the tax reductions, under the House Republican tax reform bill released Thursday. The 429-page Tax Cuts and Jobs Act—which congressional Republicans hope to pass quickly through the expedited budget reconciliation process with little or no Democratic support—would slash the corporate tax rate from 35% to 20%. That would benefit profitable companies like UnitedHealth Group, HCA and Universal Health Services, according to an analysis by Mizuho Securities. (Meyer, 11/2)

Stat: 7 Ways Biopharma Would Win — And Lose — Under The New Tax Bill
Biopharma can find plenty to celebrate — and a few things to despair over — in the new Republican plan to rewrite the tax code. The long awaited “Tax Cuts and Jobs Act,” unveiled as a House bill on Thursday, will likely still be revised significantly. But so far, here are the seven provisions with the biggest implications for the drug industry. (Robbins, 11/2)

The Hill: Tax Bill Will Not Seek Repeal Of Individual Health Insurance Mandate 
The tax reform bill to be released Thursday will not include a repeal of ObamaCare's individual mandate, sources say, despite President Trump proposing the idea on Wednesday. Repealing the mandate would introduce a whole new area of controversy into the bill, and many Republicans think tax reform is hard enough without adding in health care. (Sullivan, 11/2)